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The average price of a gallon is regular gasoline fell again on Monday remaining below the $ 5 threshold for a third day.
Gasoline hit $ 5 a gallon more than a week ago.
The price dropped a fraction to $ 4.981, according to AAA. The price on Sunday fell below the $ 5 threshold to $ 4.983.
Diesel gradually dropped to $ 5.815, below $ 5.816 on Sunday.
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Oil prices fell about 6% to a four-week low on Friday on concerns that demand will fall as central bank interest rate hikes slow the economy.
The price of US crude West Texas Intermediate (WTI) was $ 109.85, an increase of 29 cents, or 0.3%.
EXXONMOBIL RETURNS AFTER BIDEN ENOUGH ENERGY PRODUCERS
A customer grabbing $ 20 gasoline bomb tickets at a Phillips 66 gas station in Centennial, Colorado. (REUTERS / Rick Wilking / Reuters Photos)
President Biden has clashed lately a flood of criticism for the lack of executive action aimed at curbing inflation. As for higher gas prices, the president has torn between blaming Russian President Vladimir Putin for his invasion of Ukraine and the profit of the oil company.
ExxonMobil responded to Biden after threatening them with “emergency powers” if they do not increase supply to temper rising gas prices.
Gasoline prices are seen on a poster of the Exxon Mobil gas station on June 9, 2022 in Houston, Texas. (Brandon Bell / Getty Images / Getty Images)
THE WHITE HOUSE Considering Sending Gasoline Discount Cards to Americans: REPORT
In a statement issued Wednesday of the company, ExxonMobil said it has been in regular contact with the administration providing updates on how it has been investing “more than any other company to develop the US oil and gas supply”.
GAS PRICES REACH $ 5 ALL OVER THE COUNTRY FOR THE FIRST TIME IN MORE THAN 2 DECADES
The White House is raising the idea of gas rebates for U.S. residents because of record gas prices.
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A White House officer he told FOX Business that the administration has not ruled out distributing gas discount cards. Hypothetically, the cards would subsidize the price of gas for Americans, many of whom are struggling to make ends meet with a fuel that is now priced at the level of a luxury good.
Bradford Betz, Edward Lawrence and Timothy Nerozzi of Fox Business contributed to this report.