Yeah, Gas Prices Are This Low
Gasoline prices have dropped to their lowest levels in nearly five years and stand at around $2.90 per gallon on average, according to data from GasBuddy, a company that tracks gas prices.
“The national average has just slipped below $2.90 per gallon for the first time since May 2, 2021,” GasBuddy analyst Patrick De Haan writes in a X post. He adds that “at the current level of $2.897/gal (according to GasBuddy), the national average price of gasoline is at its lowest level in 1,680 days.”
In most of the country, including the Midwest, mountain regions and the South, fuel is even cheaper. The average would be lower if it were not for states like California, New York and Illinois which have been criticized for state policies that increase the cost of fuel, driving the national average up.
In Missouri and Kansas, there’s even better news. The price of a gallon at a Springfield, Mo. Costco was just $2.09 over the weekend. Locally, the price per gallon is averaging around $2.65. The average cost in one county is $2.24.
The most common gas price seen by drivers was $2.79 per gallon nationwide, a figure that GasBuddy said was down 20 cents from the previous week.
“With the national average falling further, we’re now at multi-year lows heading into Christmas,” De Haan said in a statement on Monday accompanying the analysis. “Barring any major disruptions, prices are likely to stay relatively low into the new year.”
Currently, California has the highest prices in the nation at $4.46 per gallon, followed by Hawaii at $4.43 and Washington state at $4.10, according to a map from the automotive organization. Oklahoma has the lowest at $2.36 per gallon.
The highest-ever average price for a gallon of regular unleaded gas was reached in mid-June 2022 when it topped $5, according to AAA’s figures.
President Donald Trump and administration officials have sought to demonstrate that their policies are working and that Americans are better off than during the previous administration.
The White House this week highlighted the GasBuddy report, saying it’s evidence that U.S. economic activity would soon pick up.
“It’s part of an emerging trend of strong economic news, backed up by data,” the administration said in a post on its website, referring to the gas prices report. “In just the past week, Americans saw the national median rent fall for the fourth straight month, weekly jobless claims plummet to a three-year low, mortgage rates near their lowest level in a year, and consumer sentiment spike.”
The new year looks even better for the American consumer. When the full effects of new energy policies like expanded US production are in place, some believe the cost of a gallon of gas could drop below $2.
By Jack Phillips | The Epoch Times News Service with additional reporting by Metro Voice
