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U.S. Gas Prices Fall Below $3 National Average for First Time Since 2020

Analysts point to OPEC+ output increases as the primary driver.

Overview

  • GasBuddy pegs the national average at $2.98 per gallon with 35 states under $2.99, while AAA lists the U.S. average near $3.03.
  • EIA data show U.S. crude inventories rising and implied gasoline demand falling to 8.455 million barrels per day, reinforcing downward pressure on pump prices.
  • Prices vary widely by region, with Oklahoma around $2.45 and Texas $2.54 versus California at $4.60, Hawaii $4.45 and Washington $4.36.
  • Michigan’s average has dropped to $2.79, its lowest since April 2021, as Maryland slips under $3 and Florida hits $2.89, the cheapest there since 2023.
  • Local dynamics continue to cause bumps, including price cycling that lifted Columbus, Ohio, to about $3.01 and a recent Whiting, Indiana, refinery fire that tightened Great Lakes supply, even as experts expect sub‑$3 prices to persist barring major disruptions.