prices to go down right? they need to balance their budgets and saudi aramco, the big crown jewel of study ariba. they re selling off a big chunk of that, so they don t want prices to this in response a little bit to the fact that us production is so high it begs the question what will the impact be on actual prices at the pump? yeah. i mean, absolutely. the us is producing more oil than any country ever has before. that s why we ve actually seeing gas prices come down recently. 353 is the national average. now that s not cheap. but that is a two month low end. it is down by $0.14 over just the past month. and if we look at the map, you can see across the country, we ve actually seen some states have even bigger drops, $0.25 or more in tennessee arizona, and oregon, more than $0.30. this is over the last month for nevada, california, and utah, a veteran analysts, andy lipo, he told me that he thinks the national average is going to keep going down by another five to $0.10 over the next
$0.14 over the past month. and depending upon where you live, some drivers are seeing even bigger drops. we ve seen declines of more than $0.25 a gallon for oregon, arizona, and tennessee, more than $0.30 in california, nevada, and utah. that s over just the past month. and veteran oil analysts andy lip out, he told me that the national average should drop by five to $0.10 a gallon over the next few weeks. now, of course, the stakes here are huge because as you mentioned, we re in the middle of summer driving season. americans are hurting from high inflation. so consumers, of course want and need a break from high prices. also, there s economic implications in terms of when the fed can start to lower interest rates. and then there s the political implications as we know, voters do not like high gas prices. and so this is something we need to keep a very close ion, jessica. all right. matt egan for us. thanks so much for that reporting.
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