💨 Abstract

"In response to recent events, oil prices have seen a significant drop, despite missile attacks in the Middle East. The U.S. is now the world's top oil producer, leading to an oil surplus. This surplus, along with weak global demand, due to increased focus on renewable energy sources and electric vehicles has kept gas prices in decline for about three years. Experts predict that gas prices at the pump may start to fall as early as this weekend, also due to decreased petroleum demand."

Courtesy: WTOP Staff