WASHINGTON — Gas prices are still dropping just in time for the holidays.
"The longest decline that we've seen since the summer of 2022," said Patrick de Haan with GasBuddy.
A series of events could have cooled that trend, like Russia’s ongoing war in Ukraine and the Israel-Hamas conflict.
According to AAA, gas prices have now fallen every day since the peak on Sept. 18.
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"That's the good news for the next few months. The bad news is that if middle east tensions remain high into the first quarter of 2024 then you'll see gasoline prices move up independently of crude," said Tom Kloza, global head of energy analysis for Oil Price Information Service.
The average price for a gallon of regular gas nationwide is down 25 cents from a month ago, according to AAA.
It's down 30 cents in Washington, but our prices are higher than the national average because of taxes and climate change initiatives.
According to GasBuddy, you should expect those low prices for the next several months.
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"I do expect that between now and say Valentine's day of next year, gas prices should be in the low $3 range nationally with many states falling below that $3 a gallon mark," said de Haan.
Organization of the Petroleum Exporting Countries (OPEC) and its allies have a critical meeting scheduled this week. Experts said the outcome could affect prices at the pump.
"That OPEC meeting could hold the key to future gas prices all in all," said de Haan.
Which leaves drivers to wonder if these savings will outlast the season.
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