Prices for gas have been steadily decreasing this early December and they’re continuing to decline. 

One of the primary reasons why your gas prices rise or fall is the fluctuation in the price of crude oil. U.S. refineries buy several million barrels of oil every day to supply the world’s biggest economy, so even small price changes make a big difference.

When crude oil prices go up or down, gas prices tend to follow. And right now, oil prices are on the decline.

Another reason why gas has gone down is because people are driving significantly less. It happens every year around labor day, summer vacations end, temperatures drop, beaches and amusement parks close for the season. The net result is people have fewer reasons to hit the highways.

Did you know that there are many different recipes for gasoline? Thanks to different state and local regulations, your neighborhood pump probably dispenses a different blend of gas from pumps in other states. And there are seasonal varieties too, summer gasoline and winter gasoline. Winter gasoline is usually cheaper.

While gas going down may be a good thing for people, it is not so good for some people who work in the oil field. While the prices go down for us, their paychecks also go down.