Gas Prices Continue to Fall but Middle East Tensions Threaten Further Declines

Gas prices have fallen from a month ago despite risks to Middle East oil supply, but likely would have declined further without Israel-Hamas tensions.

Gasoline prices may fall another 20 cents/gallon or more barring wider conflict, but could spike if Iran gets involved.

California gas prices have plummeted nearly 60 cents in 3 weeks as refinery situation improves.

GasBuddy forecasts show continued declines in Oct-Dec, similar to this year barring expanded Middle East conflict.

Diesel prices are down from last year but still historically high due to tight global supply, and could spike further if Israel war expands.