Gas prices are plummeting. Experts explain why.
Gas prices have plummeted about 13% from a 2024 peak in April, which amounts to a decline of nearly 50 cents per gallon, according to AAA data shared with ABC News.
Why are gas prices falling?
Another seasonal trend is helping as well: The switch back from summer gas. Every fall, refineries switch back to making the winter blend of gasoline. That blend evaporates more easily in cold temperatures, making it easier for your car to start when it is chilly outside.
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