NEW ORLEANS (WGNO)— Finally some good news for drivers! Gas prices are starting to go down that’s because the cost of crude oil has dipped below $100 a barrel.
Keep a close eye on these gas prices because in the next few weeks you’ll start to see the numbers going down for the first time since the start of the war in Ukraine.
“We saw a high of $130 dollars a barrel for crude oil, now it is at about $95 a barrel,” Don Redman with AAA said.
Crude oil accounts for 50-70 percent of the price of gasoline per gallon so with crude oil prices dipping drivers will soon see lower prices at the pump.
“We’ve already seen a slight decrease and some people are looking at a penny decrease as like a big whoop, but it will continue to drop if decline of crude oil continues,” he said.
Redman said that drivers habits really start to change when the gas is between $4.50-$5.00 a gallon. Currently the average in the Gulf Coast is around $4.15 a gallon. Drivers were worried it would reach $5.00 a gallon here, so any dip is a good sign.
“This is not something we’ll see overnight. You might see a couple of pennies a day going downward,” Redman said.
For driver Patricia Wilson, she’s ready to feel some relief.
“Can’t really save on anything because you got to have gas to get around and groceries to feed your family. We really need the prices to go lower, so people can live their life and enjoy it. I pray we get out of this real soon because it is just hard on the people,” Wilson said.
In addition to gas, Redman said one of the reasons grocery prices are so high is because of fuel costs. Most delivery trucks use diesel fuel which costs about $5 a gallon now, so it could cost around $1,000 for delivery drivers to fill up.