Headline Roundup • June 10th, 2024
Gas Prices Are Falling. Will it Continue?
Summary from the AllSides News Team
Gas prices have fallen for two straight weeks, with the average price now being $3.445 per gallon, according to AAA.
The Context: The biggest decline has been in the Midwest, with an average decline of $0.11 per gallon. Gas one month ago averaged $3.636 per gallon. Gas in June last year was $3.589.
The Details: Some predict that gas prices will increase again, saying that the compressed levels that refineries are operating at are not sustainable as summer travel and hurricane season pick up. Yahoo News (Lean Left bias) cited an energy trader who said "over the course of the summer, we're going to see a lift in gas prices, probably closer to that kind of $3.65, $3.70 level."
How the Media Covered It: Outlets on the left and in the center more often covered predictions that gas prices may rise, a shift from the typical left-right media framing on the issue under the Biden administration.
Featured Coverage of this Story
CIBC Private Wealth US Senior Energy Trader Rebecca Babin joins Yahoo Finance's Market Domination to talk about the price pressures in the energy market stemming from OPEC's extended production cuts for oil (CL=F, BZ=F) and its spillover into gas prices (RB=F) ahead of the summer season.
"Over the course of the summer, we're going to see a lift in gas prices, probably closer to that kind of $3.65, $3.70 level. Nowhere near the point where it starts to make people change their mind on consumption," Babin states. "But I would expect we see a bottoming here,...
Washington Examiner
Gas prices decreased again on Monday, with an average price of $3.445 per gallon for regular-grade gas. It’s the second straight week of falling gas prices in the country, a trend that started shortly before the Memorial Day weekend. Monday’s price was slightly cheaper than Sunday when gas cost $3.449 per gallon. Gas is also cheaper than a week ago when a gallon of regular-grade gasoline cost $3.532 per gallon. A month ago, gas was $3.636 per gallon. Four states now have an average gallon of regular-grade gasoline priced under...
...
Newsweek
Gas prices across the United States have continued their downward trend as summer approaches. According to the data from the American Automobile Association, the national average gasoline price has seen a decline, with states expected to see their averages dip below $3 per gallon in the coming weeks. AAA reported that the national average price for a gallon of regular unleaded gasoline was $3.49 on June 6, marking an eight-cent drop from the previous week and the largest weekly drop of the year. This decline comes despite OPEC's decision to...
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