Falling Oil Prices Bring Relief at the Pump as US Gas Prices Drop Below $3.75 Per Gallon

Oil prices have fallen significantly this week from $94 to around $83 per barrel, bringing relief at the gas pump.

Average US gas price has dropped from $3.83 to $3.75 per gallon in the past week and is expected to fall further.

Drop in oil prices attributed to high interest rates that could slow economic growth and oil demand.

Falling gas prices also due to end of summer driving season and high gas inventories.

Some states already seeing gas prices below $3 per gallon, more expected in coming weeks.