I am not an economic expert, so you may take with a grain of salt. Gases, prices, a complex topic. From my understanding there are/were two things causing increases in price. First is just inflation across the board that affects all items. The second is the oil specific problem of, there is plenty of crude oil, but not enough was being refined, leading to a lack of supply for actual gasoline. Some measures have been taken to curb the later problem of not enough refining. The prices dropping could be a product of that. To my knowledge the cause of that was exposing some of the crude supply to the wider world so places that had the capacity to refine more could take it and refine it. The US and several other nations were already running at capacity. Building more capacity is a long term solution, but needs year to build new refineries. The short term solution is to let whoever had slack capacity to take it, refine it, and put back out into the global market.

So the price decrease we see is probably more from the later, but there is still impact from the former. As a reminder, this goes more specifically for gas prices and not necessarily all prices on all items in general.