US Domestic and Imported Oil Prices are dropping…

Domestic and imported crude oil prices dropped in May 2025; this trend is expected to continue through October 2025. The reduction in crude oil prices has been reflected in prices at the pump. In California, the minor state excise tax increase and new emissions regulations took effect on July 1; however, these measures have not been sufficient to reverse the overall downward trend in prices, which is attributed to broader market factors.