It’s pretty great when gas prices go down, right?
Well, yes and no.
That’s the word from GasBuddy.com, which reports that dropping oil prices, and a corresponding drop in the prices of gasoline, are party due to a drop in consumer confidence as a result of the now global trade war, sparked by tariffs.
Gas prices rose by 1 point 9 cents cents in Akron last week, to an average of $2.90, which is lower than the national average, which dropped by 1.3 cents, to $3.02.
In a release from GasBuddy.com Petroleum Industry Analyst, Patrick DeHaan today, he notes that “As concerns over tariffs and policy uncertainties grow, gas prices have continued to decline across much of the country, raising the possibility that the national average could slip below $3 per gallon and approach some of the lowest prices seen in years. However, this decline shouldn’t necessarily be celebrated, as it comes with strong warning signs. When the economy slows, gasoline demand drops— along with demand for other refined products like diesel and jet fuel. We’ve already seen some signals that the months ahead could be challenging. All of this suggests that gas prices are likely to remain low for now. However, if economic conditions improve, gas prices could eventually follow suit and start rising again.”








