Gas prices fall below $4 a gallon at some DC area gas stations
ALEXANDRIA, Va. -
Gas prices are still high, but for the first time in a long time, you can find fuel for less than $4 a gallon here in the DMV.
Miles Washington told FOX 5 Wednesday afternoon that he drove 12 minutes to get to the Liberty gas station on West Glebe Road in Alexandria.
"It’s unbelievable because it was such a shock when the prices started going up," added Diana Povolotskaya, who was also filling up her tank at the Liberty gas station.
Prices may not be as low elsewhere in D.C., Maryland, and Virginia, but they have dropped. For instance, another Liberty station on Bradley Boulevard in Bethesda was selling a gallon of regular gasoline for $4.67 Wednesday compared to $4.93 less than two weeks ago.
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GasBuddy’s Patrick De Haan offered two reasons why: First, he said rising concerns that we could be heading towards a recession are impacting prices. Also, De Haan said there’s been an improvement in supply.
"Everything has come together quite nicely, and we are now seeing some 25,000 stations – approaching 30,000 stations – that have gasoline for less than $4 a gallon," De Haan said.
Still, questions remain.
"Is it for real? Is it for a week? Is it for three days?," asked Povolotskaya.
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De Haan said he thinks prices could continue to decline for the next two to three weeks, with the national average even dropping under $4 a gallon within the next month.
"It’s not impossible that eventually, you’ll see a sub-$4 price directly in D.C., but again, the decline is very, very loosely held together. So one thing goes south, that could pull down the whole decline," he explained.
Hurricane season or unexpected economic data, De Haan adds, could have a major impact on prices.