Prices at the pump continue to plunge, dropping the US average for gasoline below where it was when Russia invaded Ukraine.
A gallon of regular gas now fetches $3.47 nationally, according to AAA. That is below the $3.54 average on February 24, the day Russia invaded Ukraine. That is down about 12 cents in the past week and 29 cents in the past month. This week marks the first time since February that the national average has fallen below $3.50 a gallon. Gas prices were climbing in January and February as investors worried about disruptions from a Russian invasion of Ukraine.
Although gas prices are still relatively high for this time of the year, they have also completely reversed the spike caused by the war in Ukraine. That spike worsened inflation and set off inflation alarm bells around the world. The national average is now down by $1.55 since hitting a record high of $5.02 a gallon this past June.
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