Gas prices are expected to decrease in the coming weeks if the recent decline in oil prices due to the US-China trade tensions persists. The national average for gasoline stood at $3.21 per gallon on Friday, slightly higher than a month ago but significantly lower than a year ago. In the past week, pump prices dropped by $0.05 per gallon as oil prices fell, reversing a recent increase attributed to refinery maintenance and the transition to more expensive summer blends.

Andy Lipow, president of Lipow Oil Associates, predicted that gasoline prices would continue to fall as oil prices decrease further. He anticipated a drop of around $0.15 per gallon over the next two weeks, with possible additional declines if oil prices remain low. Oil prices have been on a downward trend, with West Texas Intermediate (WTI) and Brent futures trading at approximately $60 and $63 per barrel, respectively.

The recent trade tensions and tariff policies introduced by President Trump have contributed to the decline in oil prices, raising concerns about reduced demand due to the impact on the global economy. Patrick De Haan, head of petroleum analysis at GasBuddy, expressed that gasoline prices could potentially drop below $3 per gallon if economic conditions do not improve. Lower gas prices compared to the previous year have helped moderate inflation, with the Consumer Price Index indicating a decline in the gasoline index by 9.8% annually in March.

In conclusion, the expectation is for gasoline prices to decrease further in response to the falling oil prices, with potential impacts on inflation and consumer spending.