While gasoline prices are still $1.50 higher per gallon than they were this time last year, they fell sharply overnight in what was the largest one-day drop in nearly 15 years, according to AAA data. The current price for a gallon of gasoline in the United States is averaging $4.721 on Friday, down from $4.752 per gallon on Thursday—a 3.1-cent drop. The weekly change is even more significant at 12.1 cents. According to Gas Buddy’s Patrick De Haan, more than 5,800 gas stations across the country are offering gasoline at $3.99 per gallon or less. While they are trending down this week, gasoline prices are still $1.58 higher than they were this time last year. Gasoline prices continued to drop as crude oil prices rose on Thursday and Friday, but crude oil prices are still down significantly week on week. Crude oil NY hit a high i June of $22.00 a barrel. Now trading at a little over $100.00 a barrel. After Biden as a begging goes to the Saudis, kisses royal ass and does the sword dance pries will come down even further. High gasoline prices have been a worry for the Biden Administration, which has so far released more than 145 million barrels of crude oil from the nation’s Strategic Petroleum Reserves, bringing the SPR down to levels not seen in decades in order to calm the high prices at the pump. Another measure that the Biden Administration has taken includes asking OPEC+ to pump more, but the group has been either unwilling or unable to live up to its production quotas. Also contributing to the price decrease in gasoline is U.S. gasoline demand, which is down roughly 4.5% from last week, according to De Haan. NN: nothing is more inflationary then rising energy prices. On the other hand noting is more deflationary then energy prices peeking and coming down. I have never seen a surge in oil that is not followed by a plunge,