SALT LAKE CITY — It's getting a bit less painful to pump gas in Utah after prices slipped below $4 per gallon at stations across the state on Monday.
Of course, the cost of a gallon of gas still has a long way to go before meeting pre-Iran War prices.
Several stations in the Salt Lake Valley currently feature sub-$4/gallon gas, with the lowest price of $3.77 spotted at a Walmart location in Kearns.
In a survey of 380 stations in Salt Lake City, GasBuddy said the average gas price fell 22.4 cents in the last week and 52.5 cents since a month ago. However, the average price is still $1.06 higher than one year ago Monday.
Owning a new car now costs more than $12,000 annually amid higher gas prices:
Despite the high cost of living being a major factor in the Republican Party drubbing in last week's elections, experts said the sudden fall has nothing to do with politics.
“Many will assume the election had something to do with it, but that’s a myth. Gas prices have fallen in the 30 days leading up to the election every year since 2006 except 2010, and it’s typically seasonal: refiners finish maintenance and ramp up output just as demand fades with cooler weather," explained Patrick De Haan, head of petroleum analysis at GasBuddy.
While seasonal factors such as the end of the driving season and Daylight Saving Time helped lower gas prices, Scripps News reported they likely won't impact diesel and jet fuel, which are only down 2-5% since September.
While relief is currently being felt, Utahns and drivers across the country should not expect prices to return to pre-war levels anytime soon.
“There’s 7 million barrels a day of refined products capacity that’s been knocked out by drones or missiles," said Tom Kloza, an independent oil analyst and an advisor to Gulf Oil, "and that’s not likely to return soon.”