US retail gasoline prices fell below $4.50 a gallon for the first time since mid- May, easing pressure on the pump for millions of Americans.
The data was released by the American Automobile Association. Since hitting a record last month, prices have fallen more than 10% and are currently on a 35-day slide.
A run up in gas prices this year has helped fan the fastest rate of inflation in decades. The president just returned from a trip to Saudi Arabia in which he said he expects more oil supply increases.
Oil and gas companies should be passing on lower costs to consumers, according to Biden.
Gas prices have been dropping for 34 days straight, about 50 cents a gallon. That saves the average driver about $25 a month.
I know those extra dollars and cents mean something. It's breathing room. And we're not done working to get prices even lower.
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