WASHINGTON, D.C. (May 2, 2024)—The national average for a gallon of gas waffled up and down over the past week before settling higher by two cents at $3.67. The slight increase in pump prices happened despite a lull in domestic gasoline demand and falling oil prices.

According to Andrew Gross, a spokesperson for AAA, "From a demand perspective, we have entered the pre-Memorial Day funk." Gross also noted, "And the cost of a barrel of oil is nearly $10 less than two weeks ago, as oil prices have fallen into the upper $70s. This may keep pump prices somewhat flat for the immediate future."

The market has experienced fluctuations despite the decrease in oil prices, indicating a complex interplay of factors influencing gas prices. As May begins, consumers may find themselves facing a lukewarm start in terms of gas prices.