Summary
Average gas prices in the United States are expected to fall below $3 per gallon this year, reaching the lowest level since 2020. This decrease is part of a four-year trend of falling prices, influenced by global market conditions and increased refining capacity.
Key Facts
- GasBuddy predicts nationwide gas prices will average $2.97 per gallon in 2026.
- The price forecast represents a drop from last year’s average of $3.10 per gallon.
- This would be the lowest average gas price since 2020, when it was $2.17 per gallon.
- Gas prices have been decreasing for six weeks, with the current nationwide average around $2.81 per gallon.
- Diesel prices are also expected to drop, expecting an average of $3.55 per gallon this year.
- Reasons for the decline include global economic recovery and new refining capacity.
- Despite lower prices, gas may temporarily rise to around $3.20 in the spring due to seasonal factors.
- The White House has noted lower spending on gas during President Trump's second term.
