Gas prices reach their lowest average of less than $3 per gallon since the pandemic era

Despite inflation, layoffs and other economic problems, Americans can look forward to a bright spot amid the silence.

Gasoline prices have reached their lowest average peak of less than $3 per gallon since the pandemic year of 2021. The news comes as Americans continue to struggle with rising costs of living.

The price reached this new low on December 2, reaching an average of $2,998 in the United States. Gas prices haven’t seen such lows since May 2021, when the pandemic was still in full swing.

CNN also reported that the year-over-year comparison showed that the price for gas was slightly lower than in 2024. Although it was only a few cents, the average from last December remained at $3.05 per gallon.

However, gas averages are even lower in some states across multiple regions. States ranging from New Mexico to South Carolina and Colorado enjoy an average of $2.75 for one gallon.

The low prices may be the result of Donald Trump’s policies to deregulate fossil fuel extraction and non-renewable energy production. During his second term, he promised to keep gasoline prices low through these deregulation efforts.

Despite lower costs at the gas pumps, Americans still face high prices for groceries and other costs of living, marking a new affordability crisis in the country. Inflation remains stable, but is still relatively high, around 3%. according to Nerd wallet.

Another factor contributing to the low costs is through no fault of Trump himself, as the price for barrels of crude oil is significantly lower than in previous years. While barrel costs skyrocketed during Russia’s invasion of Ukraine in 2022, they have fallen from $81 to a current rate of $59.

In addition, OPEC and the US have both increased oil production, causing supply to exceed demand. If this trend continues, the price of barrels of crude oil could fall even further, making the next trip to the gas station even cheaper.

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