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Thanks to decreased demand and a strengthening dollar, the price of gasoline has fallen for 30 consecutive days. After facing rising gasoline prices for the first six and a half months of the year, this recent 9% decline is coming as a relief to many Americans.

Even with prices down over the last month, we’re still paying about 36% more for gas than we were at the same point last year. Since the first of the year, the price of gas is up over 24%.

Since hitting an all-time high of $4.12 per gallon on July 16, the national average price of gasoline has slowly declined, and now stands at $3.75. There are currently only five states reporting an average price above $4 per gallon, with Alaska reporting the highest price at $4.86 per gallon. Missouri has the lowest statewide average price at $3.50 per gallon.

With the busy summer driving season winding down, the price of gas should continue to fall through autumn. Based on the declines seen over the past three autumns, we should expect the price of gasoline to fall another 15 to 20 percent. However, if the price of oil plummets – as many experts are predicting – we could see the price of gasoline fall even further.

Of course, if something were to happen to oil supplies or should geopolitical tensions continue to flair – especially between the United States and Iran – we could see the price of both oil and gas jump back through the roof.

Regardless of what you think might happen over the next several months, just enjoy the fact that you’re paying less now than you were a month ago.