Gasoline Prices Fall to 4-Year Low on Cheap Oil, Flat Demand
Prices Across US Average $3 a Gallon
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The cost to pump a gallon of gas in the U.S. is the cheapest in more than four years but remains well above President Donald Trump’s pledge to bring the price below $2.
Gasoline prices across the U.S. fell less than one cent Nov. 29 to the lowest national average level since May 2021. On Dec. 1, they averaged $3 a gallon, according to American Automobile Association data.Ìý
While gasoline prices tend to fall after the peak summer demand months when drivers hit the road for vacations, the cost to fill a car tank has been relatively flat this year with prices held down by cheaper crude.
Trump hasÌýtouted the prospectÌýof bringing gasoline prices down. Just over 10 months into his second term, the national average is down about 13 cents a gallon. Still, that’s about a dollar a gallon higher than his campaign pledge of sub-$2 gasoline, a level last seen in 2020 as the COVID outbreak spurred lockdowns and stay-home mandates.Ìý
Demand this year has also been stagnant, lagging 2024 levels in the majority of months this year, according to data from the U.S. Energy Information Administration. That has helped keep costs low, but what a driver pays can vary dramatically by region — Californians paid an average $4.56 a gallon on Dec. 1 while Texans paid $2.57.
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