US national gas price average fell seven cents to US$3.76 in week ended Oct. 5, and is five cents lower month-over-month; gas demand fell significantly to 8.01 million b/d from 8.62 million b/d last week: AAA

WASHINGTON , October 6, 2023 (press release) –

The decline in pump prices accelerated a bit since last week, with the national average falling seven cents to $3.76.  The primary culprits are slack demand and the falling cost of oil, which has shaved more than $10 and is hovering near $82 per barrel.

“Drivers are finally seeing some relief at the pump as the seasonal swoon picks up momentum,” said Andrew Gross, AAA spokesperson. “At least one state has locations selling gas below $3 a gallon, and we should begin to see more states join in over the next few weeks.”

For the complete report, including the latest EIA data and oil market dynamics, please visit https://gasprices.aaa.com/despite-the-autumn-colors-drivers-find-more-green-in-their-wallets/

Industry Intelligence Editor's Note: This press release omits select charts and/or marketing language for editorial clarity. Click here to view the full report.

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