While the price of gas over the past few months has been a major financial burden on Americans at the expense of soaring inflation, it seems that the gas pump has finally cleared up. New data has just revealed that gas prices have recently seen their biggest one-day drop since 2008… and expect it to continue falling!
It’s no secret that current US gas prices have caused Americans to tighten their budgets and cancel their summer plans – but according to recent data, things are going down… literally. @Bloomberg reports, gas prices just posted their biggest 24-hour drop in nearly 15 years. Prices reportedly fell 3.1 cents to $4,721 per gallon overnight, based on new figures from AAA. These latest numbers are in line with current prices that have fallen over the past 24 days, which is the longest time frame of decline since April 2020.
However, despite the encouraging news that gas prices are continuing to fall, prices are still about $1.60 higher than they were at the same time a year ago. Meanwhile, 10 states are still stuck with prices above $5 a gallon, specifically California, which is currently at over $6 for a gallon of gas. Earlier today, while addressing the reduction in gas prices, President Biden said that “we are making significant progress” but noted that there is still much work to be done to make things permanent.
In addition to national issues such as the overthrow of Roe v. Wade, gun control and student debt relief, President Biden has been heavily criticized for acting sooner rather than later on gas costs.
As re-election talks have begun, many political experts say that for Biden to secure a second term, he must deliver substantial action and results on the most pressing issues that matter most. for Americans.
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