gasoline is now $8.39, oh, no, wait. that s in the uk, not the usa. $8.27 no, that s in france. the average price of gallon of gas in the united states is actually down nearly 50 cents a gallon from its peak of $5.01, just over a month ago. that is saving us more than double, with a federal gas tax holiday would have saved because of the federal tax on a gallon of gas is 18.3 cents per gallon. today, the national average for a gallon of unleaded gas is $4.52. now, for little perspective here in the united states, we pay less than half of what many european countries pay for a gallon of gas. and we always have, we always have paid much lower gas prices
the united states. and if you remember, lawrence, we saw all the a lot of hyperbolic headlines of gasoline was at $5, with predictions that it was going at $6 or $7, some even called it for $8. oil was at $122, i believe. and today, it s about 101. so, we ve seen the fastest decline in gasoline and oil prices in over a decade. so it s been quite remarkable. i think it s gonna continue to go down. but let me just add something because, as you mentioned, the average is $4.52. but the most prevalent gasoline price in america today it s actually below $4. it s actually $3. 99. so that s how far it s common. most prevalent price is $3. 99, and the average is $4. 50. so, we are going in the right direction. the president still thinks that s too high, and we re still working as hard as we can to take all the action that the president has to date, that has resulted in this lower price, and trying to bring that price down. and of course, you are 100%
compassion for them. they ve misplayed this right from the beginning and mislabeled it from the beginning and now claim credit for something and here is the problem. in january of 2021, the average price of a gallon of regular gas was $2.58. as of yesterday it was $4.52. ordinary americans are listening to this from the press room and saying to themselves i filled up at the pump and paying a lot more than i did last year or the year before and that will be the enduring problem of the biden administration. they are stuck with a bad number and they can point all they want to to the decline in the last few weeks but they still have a big jump up and people are feeling it when they go to the pump and it is not just gasoline. it is so many things we have to go to the grocery store, go to the clothing store for, and as people get ready to go back to school and they have to buy new clothes for the kids and supplies they will see it reflected. the administration is in trouble and stuck with th
this morning, gas prices falling for the 34th day in a row, down to $4.52 per gallon. that s down from $4.99 just one month ago. here now cnn business correspondent rahel solomon. these price right side dropping, they re down quite a bit from their high. here is perhaps some more good news, they are expected to drop even further in the weeks to come. what happens after that is anyone s guess but in the next few weeks they are expected to drop further. a big part of the reason why is fears of an economic slowdown. when you look at the price of crude which gas prices 60% of that is the price of crude as reflected in the price of crude, crude is off about 20 bucks or so in the last six weeks or so. so you re seeing that reflected at the pump. and of course we know that concerns about an economic slowdown are likely not going away and so there is some expectations moving forward that we could see prices drop even more. there was an important date coming up, august 3rd, that s when opec p
much. joining us more, the u.s. energy secretary. it s great to see you again. thank you for joining us. thank you. record high gas prices, especially in california, where they are having a primary today. the midterms are fast approaching. $6.37 a gallon on average, as much as $9 plus in l.a. in nevada, it s $5.52. oregon, $5.46. just for regular. 13 states see prices of more than $5 a gallon. is there anything the white house can do? you have done the strategic petroleum reserve. what about a gas tax holiday? let me say the president is going to bed at night thinking about this and waking up and asking for all good ideas, including looking at gas tax, looking at everything possible.