Gas prices are falling steadily: Here is why

Gas prices are falling steadily: Here is why

After exceeding $5 a gallon for the first time in US history, gasoline prices are finally falling.

The average retail price for gasoline nationwide is still $4.631, but down from a record of $5.014 a month ago.

Prices are on a trajectory to keep falling for at least the next few weeks.

US gasoline prices have seen a drop in the futures market this 2022.

Investors worry that interest rate hikes will slow the economy as central banks get aggressive in combating inflation.

Gasoline prices have declined in 46 states and the district of Columbia.

Weakened economic activity, as well as continuing cases of Covid-19, will further lower prices later in the year.