Reportedly, many U.S states may be set to experience significantly lower gasoline prices. Many may see prices fall below $2 per gallon this year due to the onset of the colder months ahead, as per experts at GasBuddy.
“There’s more price sensitivity in the summer when people have the means, the time off, the weather is good. Whereas in the fall months you don’t see so much of that discretionary, out of the blue, weekend travel. So, low gas prices may not spark a huge boom in demand this autumn. As gas prices fade into autumn, that’s good news for fast-casual restaurants, the Chipotle’s and McDonald’s of the world, when motorists have a little more cash in their wallet. Oil prices dropped last week after Beijing retaliated tariffs on U.S. crude.” – Patrick DeHaan, GasBuddy