BREAKING: The national average price for a gallon of regular gas has dropped to an astonishing $2.998, marking the first time prices have been below $3 since May 2021. This significant decline was confirmed by the AAA on Tuesday, as fuel costs have been trending downward since last week, coinciding with the holiday season.
The latest data shows that gas prices have fluctuated around this pivotal threshold for months, but the latest figures represent a major milestone for consumers facing rising living costs. The last recorded national average below $3 was $2.985 in May 2021. This drop is especially noteworthy as it comes just before the busy holiday travel season, providing much-needed relief for families planning to hit the road.
On Wednesday, the day before Thanksgiving, the national average was at $3.042, only to drop to just over $3 on the holiday itself. By the following Sunday, average prices settled at $3.005 and $3.001 on Monday, leading to the current average of $2.998.
The current pricing trend reflects a broader commitment by the Trump administration to lower fuel costs, a promise reiterated during his campaign for the 2024 election. As prices soared to record highs during the Biden administration in 2022, the recent decrease has been framed as a success for the current administration.
While the national average is under $3, there are stark regional differences across the United States. Oklahoma leads the nation with the cheapest gas prices at $2.404 per gallon, followed by Texas at $2.554 and Arkansas at $2.573. In stark contrast, California holds the title for the highest average gas price at a staggering $4.578 per gallon, with some counties reporting prices nearing $6.
In total, 31 states currently enjoy average gas prices below $3, with Gulf Coast states benefiting from the lowest costs. However, states along the West Coast continue to experience steep prices, with Hawaii’s average at $4.454 and Washington at $4.16.
As we move into the holiday season, consumers can expect fluctuating prices but will likely feel some relief from this recent downward trend. With fuel costs impacting everything from travel plans to grocery prices, these developments are crucial for families as they budget for the festivities ahead.
Stay tuned for further updates as the situation develops, and be sure to check local prices in your area to maximize savings. The impact of these price changes is immediate and significant for millions of Americans preparing for holiday travel.
