NewsLocal News

Actions

Gas prices begin to drop after hitting record highs

Posted
and last updated

TULSA, Okla. — After most of the nation saw gas prices of over $5 a gallon, prices are finally starting to trend downward.

The current average for a gallon of gas in Oklahoma is now $4.40 which is down from the record-high of $4.67 back on June 15th.

Experts say this means you could soon be paying less for everyday items.

Diesel users are also seeing a decrease in prices and cheaper diesel means cheaper goods.

“Any of the goods you buy at the store, groceries, a hardware store, many of these goods are shipped with diesel. So the decline in the price of diesel is also helping you to essentially pay less for those goods or will down the road," explains Patrick DeHaan, an expert from Gas Buddy.

There are also questions about why this is happening?

Experts say the fears of an economic slowdown are likely to slow down oil consumption -- in turn sending prices lower.

They go on to say prices could go down another 5 to 10 cents, but with hurricane season here, demand could go up raising prices once again.


Trending Stories:

Stay in touch with us anytime, anywhere --