Summary
Gas prices in the United States have fallen to their lowest level in over four years, with the national average falling below $3 per gallon. This decrease is due to seasonal factors like increased refinery output and low oil prices, not specific government actions.
Key Facts
- Gas prices have dropped significantly in states like Arizona, California, Oregon, and Washington.
- As of a recent Friday, the national average price for a gallon of regular gas was $2.922 according to GasBuddy, and $2.932 according to AAA.
- President Trump attributed the lower gas prices to the strong economy, but experts say global factors are the primary reasons for the decrease.
- Gas has been below $3 per gallon since December 2, 2024, which is beneficial for holiday travelers.
- The lower gas prices are expected to lead to a record 122.4 million Americans traveling this holiday season.
- Current gas prices are still higher than pre-pandemic levels, which were $2.58 per gallon in December 2019.
- No state had an average gas price as low as $1.99, although some stations offered that price.
