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Inflation can cause a price decrease

Consumer prices across many sectors have grown substantially in the past couple of years which helps explain why people are struggling with their finances more and more each year.

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All of our necessities, such as food, shelter, and electricity, have increased in price, not just marginally. The Consumer Price Index for June 2022 reflects this.

Inflation increases your monthly expenses by $460, according to Moody’s Analytics. Many of us are experiencing financial hardship. But there is some short-term comfort in sight. The only place where prices are lower is at the gas pump.

Price drops have been observed, according to GasBuddy’s Patrick De Haan. In San Antonio, the average price per gallon was $4.68 a month ago. Currently, the price per gallon is $4.08, with many stations returning to prices below $4. It’s going to keep happening.

This means that a larger portion of your monthly income, which might range from $25 to $60, stays in your wallet.

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For Americans who struggle to make ends meet, De Haan said, “it’s a very, very solid relief to see in quite short order.” Prices will continue to drop for Americans, allowing them to keep more of their money in their wallets and avoid paying more at the pump.

In San Antonio, if you locate the right gas station, you may purchase gas for $3.99.

The good news is that additional stations will drop below $4 during the upcoming weeks, according to De Haan. In fact, the majority of stations will likely be around $4. The average price in San Antonio, which is currently $4.08, may drop to under $4 by the weekend.

According to one professor, the price will probably not endure very long.

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According to Thomas Tunstall, an economics professor at UTSA, “I think it’s quite probable we’re going to see oil prices resume their upward trend, you know, $120, $130, maybe even higher, which, as we all know, I mean, even at $120, that pushed gasoline to about five bucks a gallon.” The short term is excellent. It pleases me to see it. I just continue to have some doubts that it will last.

Our budgets will continue to be under strain from inflation, which will likely last for some time. So, fill up today to benefit on the decreased costs.

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