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Gasoline prices have been dropping fairly steadily in California and across the nation since their June 2022 peak. Nationally, the average price of a gallon of regular gasoline Thursday was $3.20.
While producer prices in the U.S. increased by more than expected rising by 3.5% year over year, it was pulled down by natural gas prices which are lower on a year over year basis.
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Oil prices hit a three-year low this week, a milestone that comes after six weeks of consecutive gasoline price decline. The drop has little to do with the Biden administration’s direct ...