Gas prices are plummeting toward four-year lows, with the national average poised to drop below $3 per gallon for the first time since 2021, as President Trump’s energy policies take effect.
The price relief comes as Americans prepare for holiday travel and struggle with inflation in other sectors. AAA projects the milestone will be reached imminently, while GasBuddy predicts some regions could see prices “drop below $2 per gallon in the weeks ahead.”
Nearly every state is experiencing price declines. National outlets from CNBC to NBC News are tracking the trend, with Fox Business reporting that gas prices “could drop below $3.00 mark nationwide as costs continue falling across America.”
The drops are particularly dramatic in certain regions. Houston drivers are already enjoying prices as low as $2.29, according to local surveys.
The Detroit Free Press reports prices have fallen to “new 2025 lows” in the state.
Even traditionally expensive markets are seeing relief. Bend, Oregon, saw its average drop below $4, while Massachusetts prices hover just above $3.
Florida has reached a five-month low statewide. Louisiana officials predict prices could hit their lowest point in four years.
The widespread declines reflect increased domestic oil production and falling crude prices. KNDU-TV attributes the drop to “record oil production” across the United States.
GasBuddy analysts say the timing coincides with seasonal demand shifts, WGAU reported.
Some regions anticipate even steeper drops. Illinois radio station WTYE suggests prices “Could Fall to Pandemic Levels” in certain areas.
The relief extends from coast to coast. Rhode Island averages hover around $3, while Texas cities like San Antonio see consecutive weekly declines.
Economic analysts say the lower fuel costs could boost consumer spending. Cincinnati’s WCPO-TV reports that “Plunging October gas prices are boosting holiday shopping hopes.”