Summary
Gas prices in the United States have dropped below $3 per gallon for the first time since President Donald Trump began his current term. The decrease follows a decline in oil prices, influenced by various factors including reduced demand and changes in global oil production.
Key Facts
- Gas prices fell to an average of $2.986 per gallon nationally.
- This is the first time prices have dipped below $3 since President Trump took office again.
- Oklahoma reported the lowest gas price at $2.464 per gallon, while California had the highest at $4.602.
- Oil prices dropped due to increased production by OPEC and market adjustments.
- Seasonal changes and reduced travel demand also contributed to price decreases.
- Gas prices had previously risen above $5 during Biden's presidency.
- Experts suggest that market forces, not presidential actions, are driving the price drop.
- Economic factors, including a slowing economy, might influence future gas prices.
