Gas Prices Plummeting to Average of $4 Per Gallon

August 2, 2022 Topic: Gas Prices Region: United States Blog Brand: Politics Tags: AAAGasBuddyGas PricesInflationOilEnergyEconomy

Gas Prices Plummeting to Average of $4 Per Gallon

In their weekly gas price report, AAA found that the national average price is down to $4.21, a 14-cent drop from the previous week.


The average gas price in the U.S. continued its midsummer fall in the last week, as GasBuddy reported that the national average dropped for the seventh straight week. 

The average is now $4.17 per gallon, per GasBuddy, a 15.9 cent drop from the week before. That represents a drop of 65.5 cents from a month earlier, although the price is still a dollar higher than it was this time last year. 


Gas prices are moving towards the $4 average, just weeks after they were above $5. The most common gas price is $3.99 a gallon, with $3.79 the second-most common. 

“We continue to see average gas prices falling in every state, with the national average down for the seventh straight week. Even better, nearly 20 states have also seen their average decline to $3.99 or less, with over 70,000 stations now at that level or below,”  Patrick De Haan, head of petroleum analysis at GasBuddy, said in the report. 

“The outlook is for a continued drop in most areas, however, some supply tightness in areas of the Northeastern U.S. could push prices up slightly until inventories rise, or imports do. For now, Americans are seeing prices nearly 90 cents lower than their mid-June peak and are spending close to $330 million less on gasoline every day as a result. As long as oil prices hold at these levels or lower, we’ll see another decline in most areas this week.”

The average price in Texas is $3.67 a gallon, the lowest in the nation, followed by South Carolina ($3.69 a gallon) and Oklahoma ($3.72.) Prices are the highest in California ($5.56 a gallon), followed by Hawaii and Oregon. 

In their weekly gas price report, AAA found that the national average price is down to $4.21, a 14-cent drop from the previous week.  That price is down 63 cents from a month ago and $1.04 from a year ago, according to AAA’s measurements. 

“We know that most American drivers have made significant changes in their driving habits to cope with high gas prices,” Andrew Gross, AAA spokesperson, said in the blog post. “But with gas below $4 a gallon at nearly half of the gas stations around the country, it’s possible that gas demand could rise.”

AAA also found that motorists are changing their habits to cope with the price of gas. 

“Almost two-thirds (64%) of U.S. adults changed their driving habits or lifestyle since March, with 23% making ‘major changes,’ AAA found. "Drivers’ top three changes to offset high gas prices are driving less, combining errands, and reducing shopping or dining out.” 

Stephen Silver, a technology writer for The National Interest, is a journalist, essayist and film critic, who is also a contributor to The Philadelphia Inquirer, Philly Voice, Philadelphia Weekly, the Jewish Telegraphic Agency, Living Life Fearless, Backstage magazine, Broad Street Review and Splice Today. The co-founder of the Philadelphia Film Critics Circle, Stephen lives in suburban Philadelphia with his wife and two sons. Follow him on Twitter at @StephenSilver.

Image: Reuters.