The average price of gasoline in the US has fallen to its lowest level since May 2021, dropping to around $3 per gallon on Monday. The decline was due to cheaper crude oil and weak consumer demand, which remained below 2024 levels throughout the year. This is stated in a Bloomberg article, writes UNN.
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The American Automobile Association reported that the price fell by less than a cent over the weekend, settling at a four-year low. Although gasoline prices usually rise in the summer due to the holiday season, this year the market remained stable, and cheaper oil curbed any potential spikes.
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Despite the trend of falling prices, the price of gasoline is still significantly higher than President Donald Trump's pre-election promise of below $2 per gallon – a figure last seen in 2020 amid pandemic lockdowns. Currently, the average price is almost a dollar higher than this benchmark, although it has fallen by about 13 cents since the beginning of Trump's second term.
Regional differences, however, remain striking: drivers in California paid an average of $4.56, while in Texas it was only $2.57 per gallon.