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(NewsNation) — In a surprising shift, gas prices have dipped below $3 per gallon, marking their lowest point in over four years.
On Friday, the national average for regular gasoline dropped to $2.95, the most affordable rate since May 2021, as reported by GasBuddy.
The decline in prices is attributed to a trio of factors: decreased oil costs, high refinery output, and reduced demand. This combination has led to a rare decrease in fuel prices across all 50 states over the past week, according to insights from the fuel price-tracking service.