Gasoline Prices in US See Biggest One-Day Drop Since 2008
Pump prices have fallen with lower crude amid recession fears.
A fuel nozzle in a car at a Chevron gas station in Pinole, California.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Gasoline prices in the US just saw the biggest single-day drop in more than a decade.
Average US pump prices fell by 3.1 cents to $4.721 a gallon overnight, marking the largest daily drop since December 2008, according to auto club AAA. Prices at the pump have been falling for the past 24 days — the longest streak of declines since April 2020 — along with losses in crude oil prices, which make up around 60% of the cost of gasoline.