Gas Prices Are Beginning to Trend Lower

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• Gas prices could soon fall to an average of $4 per gallon according to one energy coordinator in the Biden Administration.

• The national average price of gas has fallen for 34 consecutive days.

• Some 25,000 gas stations are at $3.99 or less, according to GasBuddy.

Neils Bohr was a smart guy—he won the Nobel prize in physics. But the smartest thing he ever said may have been this: "Prediction is very difficult, especially if it's about the future!" That wisdom certainly applies to gas prices. Last week we wrote a story explaining that despite downward trends, we likely won't see relief from high gas prices until 2023. Turns out, the low prices we are all hoping for may be closer than we originally thought. (That previous article is still relevant though, as it contains in-depth explanations of crude oil, which help to make an overly complicated issue a bit more digestible.)

Since gas rose to a record-setting $5.02 on June 14, it has been on a downward trend for the past month and currently sits at $4.52 per gallon. Compared to $5.02, paying $4.52 may feel like a boon from some benevolent deity, although, according to AAA, $4.52 is nearly 43 percent more than the national average from one year ago, which was $3.16.