❓WHAT HAPPENED: Gas prices across the United States are nearing a four-year low, with the national average for regular gasoline projected to dip below $3 per gallon for the first time since 2021.
👤WHO WAS INVOLVED: President Donald J. Trump, AAA, GasBuddy, and local media outlets tracking the trend.
📍WHEN & WHERE: Gas prices have been steadily declining over the past week, month, and year, with reports coming in from nearly every state across the nation.
💬KEY QUOTE: “Some areas could even see prices drop below $2 per gallon in the weeks ahead,” according to GasBuddy.
🎯IMPACT: The fall in gas prices is expected to provide relief at the pump for American motorists and boost consumer spending as the holiday season approaches.
President Donald J. Trump’s push to boost U.S. energy output is delivering savings to consumers, with gas prices across the country nearing their lowest point in four years. AAA forecasts the national average for regular gasoline to drop below $3 per gallon, a level unseen since 2021.
According to GasBuddy, prices are decreasing in almost every state, with some regions possibly hitting below $2 per gallon in the weeks ahead. This downward movement has held steady over the past week, month, and year, offering welcome relief to American drivers.
This trend is linked to record-high domestic oil production, driven in part by President Trump’s “drill, baby, drill” energy strategy, and by his stabilization of the geopolitical situation in the Middle East with his facilitation of the Gaza peace deal and the end of the Israel-Iran conflict.
Mark Schieldrop, a senior spokesperson for AAA Northeast, highlighted that the oil and gas markets are anticipating a potential global surplus of oil. This expectation follows OPEC and member countries’ commitment to increase production through the winter—again, partly under Trump’s influence.
The price of a barrel of domestic crude oil fell below $60 last week, and as crude prices drop, the cost of producing gasoline also decreases.
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