2. May 2026

How long before gasoline prices go down?

Traditionally, gasoline prices are dependent on a number of factors, but the largest single component is the price of crude oil:

Based on yesterdays closing price of $101.94/bbl for WTI, there has been a 58% increase since the first of the year. So, it's no surprise that the price of gasoline is up as well.

The big questions is: when will gasoline prices come down?

While many--primarily politicians--state their opinions about the rise or fall of gasoline prices, history shows that changes in the price of gasoline tend to lag changes in the price of crude:

While WTI is down a bit from its April peak of $112.95/bbl, the price at the pump is likely to remain high for the foreseeable future.