Gas prices in US drop as interest rates are expected to rise

ABC News’ Alexis Christoforous discusses the latest on inflation as the Federal Reserve is expected to raise interest rates, while gas prices in the U.S. have dropped 55 cents from last month.

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22 thoughts on “Gas prices in US drop as interest rates are expected to rise

  1. Oh wow it dropped 55 cents a gallon!! GAS IS STILL MORE THAN $4 A GALLON IN NEW YORK. We need to get it below $3.25 and then we can relax a little bit.

  2. these dumbasses are celebrating 4 dollar 5 dollar gas, how stupid do they think we are? food prices continue to rise and along with everything else from insurance to utilities to rent. the media and this administration are dishonest and id argue treasonous. now they are going to give illegals id cards with tax payer funded benefits, totally against our laws and constitution

  3. Indiana gas stations are running on very high markup for months now and are in no hurry to get profits at more reasonable levels. Some are below 4 bucks a gallon but the majority are higher. Today's spot market closed at a price where most all should be well below $3.99 a gallon in Indiana. Glad I am retired and don't need much fuel at these outrageous prices.

  4. Honestly, hiking the prices as fast and high as the oil companies did was a mistake for their long term profit margins. People have stopped driving altogether, especially in urban areas, where prices were highest. They have turned to public transportation and have also purchased bikes and such. The oil companies had a brief moment of high revenue and stock buybacks, but the customers they lost likely won’t come back absent a 50% reduction in prices. Also, the sharp decline in price by 20% despite no change in demand is a clear indication that the high prices prices weren’t substantiated in the first place, set by anticompetitive corporate practices rather than any actual free market appraisal.

  5. Just remember these easy steps when economic reports show we are in a recession later in the week.
    1. Blame Trump

    2 Blame Putin

    3 Blame COVID

    4 Blame the energy companies

    5 Racism

  6. Republicans need gas prices to increase so they can use them against democrats in November

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