LOWER GAS PRICES ON THE WAY, IF YOU LIVE OUTSIDE CALIFORNIA
The Strait of Hormuz is reopening faster than expected and analysts have revised their oil forecasts for 2027.
Morgan Stanley reports the price of Brent Crude is expected to dip from $90 to $75 in the third quarter before dropping to $70 by the end of next year.
“Prices are falling and the market has come full circle — back to surplus,” says an analyst with the investment banker.
This is good news for gas prices, unless you live in California. Triple A reports the average price in the Golden State is at $5.45 a gallon, which is $1.59 a gallon higher than the national average.
