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3w ago

U.S. Gas Prices Sink to Multi-Year Lows as National Average Dips Below $2.80

Analysts attribute the drop to lighter winter demand.

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MIAMI, FLORIDA - APRIL 10: Jaime Zelaya pumps gas at a Shell station on April 10, 2025 in Miami, Florida. Lower fuel prices helped with a cooling of inflation last month. The Bureau of Labor Statistics reported that the Consumer Price Index increased 2.4% in March from year-ago levels, compared with 2.8% in February. (Photo by Joe Raedle/Getty Images)
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Overview

  • The national average for regular fell to about $2.796 on Jan. 12, according to AAA, the lowest since early 2021, while GasBuddy put the average at $2.73, the lowest since March 2021.
  • The White House said 43 states now average below $3 per gallon, reflecting broad declines across much of the country.
  • Regional gaps remain stark, with Oklahoma averaging about $2.21 and some counties near $2.05, contrasted with Hawaii near $4.40 and California around $4.22.
  • Florida’s average slid to $2.69, its lowest since March 2021, while Michigan bucked the trend with a weekly rise of about 11 cents to $2.81, AAA reported.
  • Experts cite strong supplies alongside softer seasonal demand and note a recent crude uptick to roughly $59 a barrel, with much of the South expected to stay under $3 for now.