Gas prices decline for the 44th straight day

Yahoo Finance Live reacts to falling gas prices ahead of this year's U.S. midterm election, and 16 states average below $4 per gallon.

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DAVE BRIGGS: For those of you still thinking of a summer road trip, there is some good news. We just talked about the energy prices. Gas prices, though, continue to come down, averaging now 4.26 a gallon nationally, according to AAA. 16 states are below 4 bucks a gallon. Of course, this is all relative. The price is still $1.09 more than one year ago today.

And Seana, a lot of this, you view through a political perspective, as we approach the midterms. And look, I don't know about the average consumer. I am still stunned every time I fill up and feel that pain. What will the messaging be for Democrats ahead of the midterms? They will certainly try to sell that we have come way back. But I think prices are still going to need to start with a 3.

SEANA SMITH: Yeah, I totally agree with that. We were talking with Rick Newman, our colleague, yesterday about that, that it's so critical for the Dems for the Biden administration to get that level below $4 heading into the midterms because you're right. Psychologically, it is so important for Americans when they are filling up at the pump. I think we obviously are headed in the right direction. You mentioned the fact that we have seen weeks of decline, down for 44 days in a row, Rachelle.

And data from GasBuddy is showing that demand has actually been increasing as we've seen the price drop a little bit. US gas demand up 1% from last week, the highest of any Sunday to Wednesday period that they have tracked so far this year. So, yes, it's a very popular summer travel season. So even though prices remain pretty elevated, not as high as we were just seeing a month ago. More and more people are traveling again.

RACHELLE AKUFFO: And you have to think, though, when people see the gas prices-- because that was really what was weighing on things like consumer sentiment. If you have to put so much more money in your car, that makes you have to spend less money on other essentials.

So perhaps we might see that reflected in the consumer. If they're feeling like they can still spend on their gas, but not as much as they did, it might make them wonder, OK, where else can I perhaps afford to splurge a little bit if these prices continue to go down? Welcome relief, though, for all drivers, I'm sure.