BREAKING: The national average price for a gallon of regular gas has fallen to $2.998, marking the first time prices have dipped below $3 since May 2021. This significant drop comes just as holiday travel ramps up, impacting millions of Americans.
On November 28, 2023, the average price plummeted, highlighting a consistent trend that began last week. The price was reported at $3.042 just a day before Thanksgiving, but fell sharply to slightly over $3.02 on the holiday itself. The downward trajectory continued, with prices settling at $3.005 by Sunday and $3.001 on Monday, before reaching the current low.
This dramatic fall in gas prices is critical for consumers, especially as many prepare for travel during the busy holiday season. With fuel costs now at their lowest in nearly four years, families are feeling the relief at the pump. 31 states are now seeing average gas prices below $3, with Oklahoma leading the nation at just $2.404 per gallon. Other states with notably low prices include Texas at $2.554, Arkansas at $2.573, and Mississippi at $2.579.
Conversely, California continues to experience the highest gas prices, averaging a staggering $4.578 per gallon, with some counties exceeding $5. Neighboring states like Hawaii and Washington also report high averages of $4.454 and $4.16, respectively.
The decline in gas prices aligns with campaign promises made by former President Donald Trump regarding affordability. After experiencing record highs during the Biden administration, prices have now dropped significantly, especially in the latter half of 2024.
As we move into December, consumers are urged to stay vigilant about regional price variations and to take advantage of the current lower gas prices while they last.
Stay tuned for updates as gas prices continue to fluctuate, and keep an eye on local stations for the best deals in your area. This is a developing story that impacts millions across the country.
