Gas prices below $3 a gallon are starting to appear in the US. Can they last?

In some parts of the country, Americans can fill up for less than $3 a gallon, thanks to the steady decline in gasoline prices.

There is a threat to the price contraction in different parts of the country.

According to Patrick De Haan, head of petroleum analysis at GasBuddy, refinery issues on the US west coast are leading to price increases in five states.

The states with the lowest average prices were Texas, Arkansas, and Mississippi, while the states with the highest average prices were California, Hawaii, and Nevada.

The reason oil prices are not more expensive is because of China. Hundreds of millions of Chinese will travel for the Mid-Autumn Festival in September and the Golden Week holidays in October. China's annual oil consumption could go down for the first time in 20 years.

Increased oil consumption from Europe could help offset the lack of demand from China. Europeans may have to use more oil to heat their homes because of Russia's cut in natural gas exports.

The consumer price index in the US is expected to fall in August due to the 13 week decline in the average price of gas. On September 13th, the data will be released.

According to the New York Federal Reserve Bank, US consumers' expectations for inflation slowed in August to 5.7% from 6.2% in July.