One of the biggest contributors to gas prices falling is the price of crude oil dropping, which is the resource used to make gasoline. "We've seen a very recent drop in crude oil prices," said Severin Borenstein, a professor at the University of California, Berkeley.
Another contributor to gas prices dropping is a decrease in demand. Demand for fuel typically drops compared to the summer time. But demand this year has fallen below lows that occurred in 2020, when many Americans were primarily at home during lockdowns.
"If oil prices continue to descend, drivers can expect further price drops at the pump in the weeks ahead,” said AAA spokeswoman Adrienne Woodland. With gas prices expected to drop even further, consumers can take advantage of the lower than normal prices.