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Gas Prices Drop Below $4 in El Paso, Yet Remain Elevated Compared to Last Year

KTSM••Michelle Chapman and The Associated Press
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Gas prices in El Paso have dipped below $4 per gallon for the first time since March, providing some relief to local residents. However, prices are still approximately 25% higher than they were at this time last year. This decline comes amidst ongoing concerns regarding oil supply, particularly with expectations that it may take weeks or months for oil to resume flowing through the crucial Strait of Hormuz. The fluctuating prices affect consumers and could influence local economic conditions.

economy oil gas-prices consumer inflation

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