Gas prices fell below $2.90 for the first time in more than four years

American consumers continue catch a break At the gas pump with roadside assistance company AAA reporting The national average price of a gallon of regular gasoline as of Thursday is $2.896.

The average fell below $2.90, which has been stable, for the first time in more than four years price drop In the last month. Vince Stanzione, a Deriv.com contributor and CEO of financial education site First Information, said low gas prices and the president’s push for global oil supply are helping. Ease prices across the country,

“As we head into 2026, the world remains well supplied with oil, and President Donald Trump is openly pushing for cheaper energy, the path of least resistance for crude is short,” Stanzione said in an email. Independent“The world remains oversupplied with oil, and Russia continues to sell its oil to willing Indian refiners, who then resell the refined products to Europe, keeping global prices down,”

Thursday’s average price for a gallon of regular gas is $2.896, about a cent lower than Wednesday, and about 18 cents lower than a month ago.

Patrick de Haan, head of petroleum analysis at gasoline pricing platform GasBuddy, noted in a Press release Political and oil factors aside, gas prices usually fall this time of year.

“Christmas is often when gas prices are near their lowest levels of the year, and 2025 is no exception,” de Haan said. “Refinery maintenance is complete, supply is increasing, and winter demand is much lower than summer – all of which helps keep prices in check. Provided there are no surprises, holiday travelers should see pump prices that are slightly lower than last Christmas.”

Where is gas cheapest?

The lowest average fuel price in the country can be found in Oklahoma, where a gallon of regular gas will cost you about $2.43. Oklahoma is one of only four states with average prices below $2.50 – Arkansas, Colorado and Iowa are the other three.

Where is gas most expensive?

Due to the cost of shipping gas to the island state, the average price of gas in Hawaii remains the highest at $4.438. California is the city with the highest average price in the contiguous United States, where a gallon of regular fuel costs $4.334.

Will prices continue to fall?

Yes, according to De Haan. He sees several “encouraging early trends” that could lead to lower prices that will continue into early next year.

Meanwhile, consumers looking for the best deals on gas prices may find cheaper fuel at the state level. GasBuddy notes that individual state taxes on gas can affect prices by 20 to 80 cents per gallon.