Overview
- AAA and GasBuddy report the national average around $2.99 this week, marking the lowest level since May 2021.
- Cheaper crude, higher refinery runs and the switch to winter blends, plus added OPEC+ output, are weighing on fuel costs as West Texas Intermediate trades near $59 a barrel.
- U.S. crude production reached a record 13.84 million barrels per day in September, and the EIA expects inventories to keep rising through 2026, a setup that could maintain price pressure.
- Prices vary sharply by state, with Oklahoma near $2.40 and California about $4.50 per gallon, and GasBuddy notes a few dozen stations selling for under $2.
- President Trump and administration officials are taking credit for the drop, while analysts attribute the decline mainly to global supply gains and seasonal demand patterns.