. The war has not significantly impacted the global oil supply, and the global oil market has been saturated with excess supply for many months.
At the same time, U.S. crude production is still near historic highs and American motorists remain well supplied. This has put a cap on price increases at the pump, and the national average price of gasoline is expected to remain unchanged or even drop further in the coming weeks. Additionally, weaker demand due to a slowing economy, continued spread of coronavirus around the world, and restrictions on travel are all factors that will likely keep downward pressure on gas prices.