The global declines are due to a number of factors, mostly related to supply and demand. A strong US dollar and slowing economic growth have played a role in reducing demand. High output from Saudi Arabia and US sanction exemptions on Iranian oil bolstered supply.
What country has the world's most expensive gasoline? [Infographic]
Global gasoline prices fell this quarter compared with our data from six months ago. Oil prices hit a recent high in early October but have fallen sharply since. US crude, for example, had its weakest month in a decade as the price plummeted 22% in November.