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Gas Prices in El Paso Drop Below $4 for First Time Since March

KVIA••CNN Newsource
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For the first time since March 30, the average price of regular gasoline in the United States has fallen below $4 per gallon, now sitting at $3.999. This decline is significant as it follows the reopening of the Strait of Hormuz, which had previously disrupted 20% of the world's oil supply. While prices have decreased daily since peaking at $4.56 in May, experts predict that they may not return to pre-war levels of $3 per gallon anytime soon due to ongoing supply chain issues and damage to oil facilities. El Paso residents should remain aware that while prices are dropping, they may rise again with increased demand in the summer months.

Key Details: • Current average gas price: $3.999 per gallon. • Lowest state average: Indiana at $3.40. • Prices peaked at $4.56 on May 21. • Expect potential price increases this summer due to demand.

economy energy oil gas-prices supply-chain

People & Organizations

El PasoAAAIndianaGasBuddyDan PickeringPickering Energy PartnersStrait of HormuzMatt SmithGulf OilTom KlozaKpler

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