Although gas prices declined and demand weakened this week, the pace was slow. The speed at which prices are falling is being held up by the cost of oil, according to AAA.
Philadelphia Fed President Patrick Harker said that he believed the central bank could hold rates where they are if economic and financial conditions evolve as they have been.
U.S. gas prices dropped this week due to falling oil prices and tepid demand, according to AAA. However, geopolitical uncertainty in the Middle East could drive up oil prices.