The nation’s average price of gas fell for the seventh straight week, to $3 per gallon for the first time in three years, according to GasBuddy on Dec. 2.
GasBuddy collected the data from more than 12 million individual price reports covering more than 150,000 gas stations across the country.
The new numbers show that the national average fell 6 cents per gallon from one week ago, 7.7 cents from a month ago, and 2.32 cents from a year ago.
The lowest average per-gallon gas prices can be found in Oklahoma at $2.39, Texas at $2.52, and Mississippi at $2.56.
Meanwhile, the highest average per-gallon gas prices are in Hawaii at $4.46, California at $4.34, and Washington state at $3.92.
The trend is expected to continue through the holiday season.
During the 2024 presidential election, Americans nationwide expressed concerns about the cost of living and everyday prices.
President-elect Donald Trump on the campaign trail promised to cut energy prices by at least half within a year of taking office with a plan to “drill, baby, drill” to achieve the goal and move away from President Joe Biden’s focus on climate initiatives.
Earlier this year, the Biden administration announced that it would be releasing 1 million barrels of gasoline from a Northeast reserve to lower prices over the summer. De Haan said the amount—42 million gallons—was equivalent to less than three hours of U.S. daily gas consumption and had a small effect on the national average of gas.
Trump has threatened tariffs on other countries, which could affect the global oil market and further reduce prices at local gas stations.
“While the potential impacts from tariffs are something to watch, they would have no effect until late January, if implemented at all,” De Haan said. “For this week, all eyes will be on the previously delayed OPEC meeting on Thursday. If they begin to restore oil production, oil prices could soften.”
