Drops in gas prices in the US are sparking hopes of a ceiling on inflation

• US gas prices are falling, with the decline reaching 91.2 in the current month.
• The indicator is dropping further, going below 95.2 year on year, while the pace of decline is accelerating.
• American producers are increasing exports of crude oil, which is boosting economic indicators.

In the US, gas prices fell in the red zone, according to The Conference Board. The index rose by 0.6 points to 91.2, but the figure for the previous month was lower—95.2 year over year.

Meanwhile, the drop in gas prices, which reduced the cost of living, is expected to have a positive impact on inflation. However, the pace of the decline in gas prices is slowing down, and the situation remains uncertain.

After all, the US has been experiencing a decline in gas prices since the beginning of the year, which is reflected in the data. The index is expected to rise to 120.

So why is the US producing more crude oil, while gas prices are falling? The answer lies in the fact that the average price of gasoline in Ukraine is $4.50 per gallon, while in the US it is $3.85, according to AAA.

Given the forecast, it is expected that the share of “vehicle fuel” will fall to 22.5% from 19.8% over the next month. At the same time, the forecast indicates that the number of vehicles will increase by 7.6 million by the end of the quarter.

Tags: Economy/Energy/USA