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US petrol prices dip ahead of midterms as voters eye costs
Al Jazeera • • business
Key Points:
- Average petrol prices in the US have decreased to $4.17 per gallon, down 12 cents from last week and 23 cents from a month ago, amid renewed diplomatic efforts to end the US-Israel conflict with Iran.
- Despite the dip, petrol prices remain significantly higher than a year ago ($3.04) and since the start of US-Israel strikes on Iran in late February ($2.98).
- Diesel prices remain elevated at $6.29 per gallon but have fallen slightly by 6 cents from last week, after previously surpassing $6.50 in September.
- Oil prices dropped 6% following signals from former President Trump favoring negotiations over further attacks on Iran, potentially leading to petrol prices falling below $4 per gallon soon.
- Cost-of-living concerns, particularly fuel prices, remain a top priority for US voters ahead of the midterm elections, with bipartisan support for Congressional action on these issues.
