Gas Prices Are Dropping: Here’s How Much Lower They Might Go

The average cost of fuel in the U.S. has fallen more than 30% from record highs, with seven states below $3 a gallon

Fuel prices have fallen because global economic jitters have dampened demand for oil, analysts said.

Gas prices are well below record highs hit earlier this year. Analysts think they could fall even farther.

The average cost of regular unleaded gasoline fell to $3.43 a gallon on Friday, according to OPIS, an energy-data and analytics provider. That is among the lowest levels since Russia’s invasion of Ukraine in February and a more than 30% drop from a record above $5 in June, according to OPIS.

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