$4.29 a Gallon: Why Gas Prices Are Stuck, and What the Forecasters Expect Next

Gas is down 20 cents from a month ago but $1.23 above last year. Here's the mechanism behind the price at your pump, by the numbers.

By Clara Hughes

AAA's national average for a gallon of regular gasoline on Sunday, Oct. 25, was $4.2892. That's: 0.6 cent below yesterday ($4.2957) 1 cent below a week ago ($4.2988) 20 cents below a month ago ($4.4918) $1.23 above a year ago ($3.0591), a jump of about 40% Prices are easing, slowly. Here is why they're so high, and why they aren't falling faster. Reason 1: Crude oil near $100 Crude oil is the biggest ingredient in gasoline. AAA reported on Oct. 22 that West Texas Intermediate settled at $97.15 a barrel, with prices "nearing $100 per barrel amid instability in the Strait of Hormuz." The EIA's October outlook estimates that Middle East crude production