Gas Prices Barreling Toward a 3-Year Low as Election Looms – RVBusiness – Breaking RV Industry News
Gas prices are falling fast, dipping below $3 a gallon in many parts of the country just before the presidential election, although it may not provide the political boost Vice President Kamala Harris is hoping for, according to a report by The Washington Post.
Gas prices are averaging $3.14 per gallon nationwide, within 8 cents of a 3-year low. They range from $2.70 to $2.90 per gallon throughout much of the GOP-leaning Sun Belt, according to AAA, the motor club firm.
Americans have long used gas prices as a way to gauge the country’s economy. Falling fuel costs typically lift presidential approval rates – along with the standing of whoever’s in the White House – while rising costs have the opposite effect.
“Americans have a history of rewarding or punishing presidents based on how things are going at the pump,” said Jon Krosnick, a political science and psychology professor at Stanford University. “If prices are going down, people tend to say ‘If things are getting better, let’s not change horses midstream.’ They favor the incumbent.”
Click here to read the full report by The Washington Post.
