Why gas prices are 'unlikely' to fall under $3 per gallon

The average price for a gallon of regular gasoline in the U.S. is unlikely to dip under $3 following news that vaccines may be effective against the omicron variant of the coronavirus, according to one industry expert. 

The average price is $3.338 a gallon, up from $2.158 a year ago, according to the AAA. 

"It seems like there is some optimistic news that previous vaccines may be effective against the variant," De Haan told FOX Business. "As a result, the wholesale price of gasoline has rebounded."

Previously, De Haan estimated that prices could decline under the $3 mark because of anxiety surrounding the omicron variant.