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Gas Prices Dip Below $4, Yet Remain Elevated Compared to Last Year

KTSM••Michelle Chapman and The Associated Press
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Gas prices in the U.S. have fallen below $4 per gallon for the first time since March, signaling a potential relief for consumers. However, despite this decline, prices are still approximately 25% higher than they were at the same time last year. Experts caution that it may take several weeks or even months for oil supplies to stabilize, particularly with ongoing disruptions in the Strait of Hormuz. This situation continues to affect local economies and consumer budgets, making it essential for residents to stay informed about fuel costs.

economy oil gas-prices consumer inflation

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