AAA says that gas prices dropping again
RICHMOND, Va. (CBS19 NEWS) -- Gas prices started to inch their way back to $4, but experts say they are finally dropping again.
Morgan Dean with AAA Mid-Atlantic said after 113 days of price drops, we saw numbers start to sneak back up.
This was related to OPEC+ plus announcing it was going to cut back on its output.
“Since then though, we have seen prices start to make that turn and come back down again. A lot of that is due to concerns over the economic downturn in the future, or a recession in the future. That usually means lower demand for fuel. So, there’s a lot of uncertainty out there. Right now that has meant lower crude oil prices and lower pump prices,” said Dean.
He added that if crude oil prices stay the same, and demand stays the same, then there will be some stabilization or another drop in prices.