AAA: Average price of regular gas has decreased over past week

AAA says prices for regular gas currently average $3.08. Last week, they were reportedly around $3.107. The group partly attributed the decrease to lower costs for oil. Rogelio V. Solis/ap

The average price of a regular gallon of gas decreased more than two cents over the past week, falling to a mark lower than a month ago, according to AAA.

Prices for regular gas currently average $3.08, the organization says. Last week, they were reportedly around $3.107, .042 of a dollar lower than a month ago.

AAA partly attributed the decrease to lower costs for oil. The average price of West Texas Intermediate, a grade of crude oil used as a benchmark for pricing, was $69.26 over the past month.

President Donald Trump has said people in the U.S. have saved with gas and utilities costs under his leadership. But Patrick De Haan, head of petroleum analysis at GasBuddy, said uncertainty over tariffs in the global trade war is affecting gas prices.

“The average price of gasoline in the U.S. hasn’t been this low in March since 2021, when the pandemic significantly reduced demand and kept prices suppressed,” De Haan said. “This time around, caution is also playing a role in keeping prices lower — particularly uncertainty over tariffs, which is likely having a moderate impact.”

He added that concern about the direction of the economy, as well as the decision by the Organization of the Petroleum Exporting Companies, or OPEC, to restore oil production, would apply more “downward pressure” on oil prices.

“As a result, the typical seasonal rise in gas prices has yet to materialize, and if and when it does, it may be considerably smaller than expected,” De Haan said.

Have questions, concerns or tips? Send them to Ray at [e-mail].