Staff Reports
Gas prices are experiencing a fascinating transformation, dropping to a new yearly low and providing a brief respite for beleaguered American drivers. As of Monday, the national average fell to $3.056 per gallon, a slight dip from the previous week’s $3.071. Coincidence or a sign of times changing? Either way, wallets everywhere may be doing a little happy dance, although it’s clear that they aren’t out of the woods just yet.
These decreasing prices come after a summer where Americans were subjected to the slow bleed of high gas costs that made filling up a vehicle feel more like paying for a luxury vacation than a necessary chore. For those with long memories, this recent price mark shines a light on just how far the nation has come since May 2021, the last time average gas prices dipped below $3 per gallon. That’s right; the last time regular gas cost less than this, the world was a happier (or at the very least, a less financially drained) place for drivers nationwide.
It’s hard to overlook how gas prices have been a thorn in the side of President Joe Biden. For much of Biden’s tenure, fuel prices have surged, reaching nosebleed heights that had everyday Americans questioning if they should trade in their gas-guzzling SUVs for bicycles. While they started to fall following last year’s record-breaking spikes, some still scratch their heads at the reality that prices remain higher than during the golden Trump years, where economy and energy independence were priorities. As Trump prepares for a potential swing back into office in January 2025, the question lingers larger than the price at the pump: Can we expect a return to cheaper gas prices?
Gas Prices Drop To Lowest Per-Gallon Average Since 2021—Ahead Of Thanksgiving Travelhttps://t.co/WqRn3i0UAZ pic.twitter.com/nPyWVbnLr9
— Forbes (@Forbes) November 25, 2024
Meanwhile, the gas bungee jump continues across the states. Hawaii leads the nation with prices soaring at $4.574 per gallon, probably making residents wish they could harness the trade winds to power their cars. On the flip side, Oklahomans are enjoying the sweet taste of low prices, with their fuel costing them only $2.514 per gallon. Isn’t it grand to see such disparity in the American experience, all depending on which way the wind blows?
In the surrounding states, Delaware, Maryland, Virginia, and our nation’s capital are riding that roller coaster of gas prices. Delaware’s average has decreased to $3.039, but after an earlier spike, residents might be crossing their fingers that this trend holds. Maryland is catching some of that decline as well, with prices stagnating around the $3.118 mark, though volatility seems to be their gas station’s middle name. Virginia drivers are breathing a sigh of relief as their averages dipped to $2.954, yet it remains to be seen how long that bliss will last. Even the nation’s capital is feeling the pressure relieved; D.C. saw its gas drop from $3.259 to $3.234, proving that perhaps a little competition might just keep those prices in check—at least for the moment.
