{"id":26608,"date":"2023-10-13T17:48:22","date_gmt":"2023-10-13T17:48:22","guid":{"rendered":"https:\/\/microloannexus.com\/personal-finance\/gas-prices-decline-despite-middle-eastern-uncertainty-aaa\/"},"modified":"2023-10-13T17:48:24","modified_gmt":"2023-10-13T17:48:24","slug":"gas-prices-decline-despite-middle-eastern-uncertainty-aaa","status":"publish","type":"post","link":"https:\/\/microloannexus.com\/?p=26608","title":{"rendered":"Gas prices decline despite Middle Eastern uncertainty: AAA"},"content":{"rendered":"
<\/p>\n
\n
<\/source><\/source><\/picture> <\/div>\n

<\/p>\n

<\/div>\n<\/div>\n

The average price of gas dropped to $3.64 for the week ending October 12, a 12-cent drop from the week prior, according to the latest report from AAA.<\/p>\n

Gas prices in the U.S. declined as concerns weighed on the oil market days after the ongoing armed conflict in Israel led to geopolitical concerns in the Middle East. The average price at the pump is 19 cents lower than a month ago and 28 cents less than a year ago.\u00a0<\/p>\n

The West Texas Intermediate (WTI) \u2013 an oil price benchmark \u2013 decreased by $2.48 to $83.49 at the close of Wednesday\u2019s formal trading session. Oil prices spiked earlier this week after the events in Israel, however, they have since dropped. Additionally, gas demand increased from 8.01 to 8.58 million barrels per day last week, according to new data from the Energy Information Administration (EIA).<\/p>\n

“As long as this war does not spread to include more countries in the region, the effect on the oil market will remain muted,” AAA spokesperson Andrew Gross said. “Here in the US, there are now nine states with some county gas averages below $3 a gallon, and this number will likely increase in the coming weeks.”<\/p>\n

One way to lower your overall cost of car ownership is by shopping for cheaper auto insurance to reduce your monthly premiums.\u00a0Visit Credible to compare your options\u00a0without affecting your credit score.<\/p>\n

HOUSING, GAS PUSH INFLATION UP HIGHER THAN EXPECTED IN SEPTEMBER\u00a0<\/strong><\/p>\n

Average U.S. gas prices at a glance\u00a0<\/h2>\n

Since last week, these\u00a010 states have seen the largest decreases\u00a0<\/strong>in their average gas prices, according to AAA.\u00a0<\/p>\n