Forbes

The average price of gasoline in the U.S. dropped for the third straight week, falling to $3.03 per gallon, according to GasBuddy -- reaching the lowest average price for the month of March since 2021, as analysts cite uncertainty over the state of the economy, including President Donald Trump's tariffs.

Patrick De Haan, head of petroleum analysis at GasBuddy, said in a press release that caution around potential tariffs is "likely having a moderate impact" on prices.

While some analysts have predicted tariffs on imported Canadian oil could push prices higher in some U.S. regions, oil prices are also closely linked to the state of the wider economy: If tariffs lead to lower economic growth, demand for oil could sink as fewer people travel and buy goods, causing prices to fall.

De Haan also said the news that OPEC+, a coalition of oil-producing countries including Saudi Arabia and Russia, will "gradually begin restoring oil production after nearly two years of cuts" has added downward pressure on oil prices.

https://www.forbes.com/sites/mollybohannon/2025/03/10/gas-prices-drop-for-third-consecutive-week-as-tariff-uncertainty-swirls/

CBS. Same source quoted Dr Haan of GasBuddy.

Why expert says low gas prices could be sign of economy in trouble

Why are gas prices falling?

AAA said the current declining prices are due largely to the falling crude oil prices and uncertainty about the economy in the months to come.

"With the switchover to pricier summer blended gasoline mere weeks away, prices are likely to increase down the road on that fact alone, but market uncertainty is muddying the waters for the time being," said Mark Schieldrop, senior spokesperson for AAA Northeast. "Ultimately, the lower cost of crude oil is weighing heavily on gas prices."

Patrick De Haan of GasBuddy also said the declining prices could be a sign of economic troubles.

"Uncertainty over the economy, paused tariffs, the stock market has plunged, OPEC is raising production in April," De Haan said. "And overall, the volatility in the government is certainly driving stock prices lower. That's also pulling oil down on a fear that an economic slowdown will likely undermine global oil demand."

https://www.cbsnews.com/boston/news/massachusetts-gas-prices-economy/