
WASHINGTON, DC – Drivers are getting a bit of relief at the pump as the national average went down by 6 cents since last week to $4.03. Crude oil prices have come down below $100/barrel, helping drive down the cost of gasoline for consumers.

But how long the downward trend will last is uncertain with continued instability along the Strait of Hormuz. Currently, pump prices are the highest they’ve been during this time of year since 2022, when the national average on April 23 was $4.11.

According to new data from the Energy Information Administration (EIA), gasoline demand decreased last week from 9.08 million b/d to 9.05 million.

Total domestic gasoline supply decreased from 232.9 million barrels to 228.4 million. Gasoline production increased last week, averaging 10.1 million barrels per day.




