Gas prices drop 70 days in a row, second-longest streak in history

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Posted at 8:06 AM, Aug 24, 2022
and last updated 2022-08-24 08:06:26-04

Gas prices nationwide have dropped for 70 days in a row, which is the second-longest streak in nearly 20 years.

Kentucky's average price is $3.49 and Lexington's average is around $3.56, according to AAA.

The national average for a gallon of regular gas hit a record average high of $5.02 on June 14. According to AAA, the national average has dropped every single day since.

The U.S. recession fears and worries about China's economy as reasons for the drop, as well as the unprecedented release of emergency oil from the national stockpile.

However, the price of U.S. crude rose Tuesday for the first time in months.

The streak of falling gas prices could be short-lived, if oil prices continue to rise.