Gas prices dropping below national average in Virginia, Maryland
If you've been out on the roads lately, you may have noticed that gas prices are actually falling.
From record highs a few months ago to the national average of regular unleaded coming in at around $4 per gallon. The national average this time last year was $3.18 per gallon.
The record high was back in June when the national average was $5.01 per gallon.
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Virginia and Maryland are currently below the national average with gas costing around $3.81 and $3.98 per gallon, respectively. D.C.'s average is sitting around $4.23 for a gallon of gas.
President Biden says the drop can be attributed to the release of oil from the nation's strategic reserves. Other oil-producing nations are also stepping up production.
Demand is also down as a result of the higher prices.
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Economic experts say the pace of inflation should start moderating soon, beginning with gas prices going down.