U.S. Gas Prices Fall to Lowest Level of the Year

The decline, attributed to falling oil prices and a warm winter, has slowed inflation and boosted consumer sentiment.

Gas prices in the U.S. have fallen to the cheapest level of the year, with the national average at $3.14 per gallon, down 23 cents from a month ago.
The decline in gas prices is attributed to falling oil prices, with the price of Brent crude plunging around 20 percent since late September.
The fall in gas prices has been crucial to an overall slowdown in inflation, with the Consumer Price Index rising 3.1 percent in November, from a year earlier.
The decrease in gas prices is expected to continue due to an unusually warm winter that's depressing demand for home heating fuel.
The drop in gas prices has resulted in a rebound in consumer sentiment, although it remains below pre-pandemic levels.