Gas prices: Fuels costs continue to fall across the country – Washington Examiner
Gas prices across the United States have continued to decline, providing some financial relief to consumers amid rising costs in other areas. As of Tuesday,the national average price for a gallon of regular gas dropped to $3.081, down from $3.099 a week prior and substantially lower than the $3.141 average from the previous month and $3.397 from a year ago. This marks the lowest gas prices since January.
The fluctuation in gas prices has been a contentious topic in political discussions, especially during the Biden administration, where prices surged past $4. Being aware of the economic landscape, including recent disappointing job reports and stock market declines, this decrease in fuel costs is seen as a positive development.
Gas prices vary significantly by state, with Mississippi reporting the lowest average at $2.627 per gallon, while California remains the highest at $4.694. Prices in the Washington, D.C. area also differ, with a local average of $3.21 per gallon,exceeding the national average. Looking forward, gas prices are expected to continue fluctuating based on regional differences.
Gas prices: Fuels costs continue to fall across the country
Gas prices continued to fall throughout the nation on Tuesday, bringing financial relief to people in the country as consumer prices rise in other areas.
The national average price for a gallon of regular gas dropped to $3.081, according to AAA. It’s the latest decrease in the fuel sector this month after constant gradual increases at the pumps in February. Today’s costs are less expensive than the gas price from a week ago when it was $3.099 per gallon. It is also cheaper than the average cost of a gallon of regular gas last month, when it was $3.141, and a year ago, when it was $3.397.
Tuesday’s fuel costs are the lowest since the first half of January. Moreover, it’s also a less expensive price than on Jan. 20, the last day in office of former President Joe Biden, when the national average cost for a gallon of regular gas was $3.125.
Gas prices have been a controversial issue and at the epicenter of political conversations regarding energy and the economy during the last two presidential administrations. This was especially true during the Biden administration when fuel prices hit record highs. During Biden’s time in office, especially compared to President Donald Trump’s first term between January 2017 and January 2021, expensive fuel costs plagued the country. During that period, a gallon of regular gas was $2.476. It was also the last time the national average price for a gallon of regular gas cost under $3.
Gas prices increased to over $3 per gallon shortly after Biden’s inauguration, beginning in June 2021. Approximately a year later, the cost of a gallon of regular gas soared to $4.929, the most expensive in the nation’s history. Fuel prices began to drop the next month but continued to fluctuate between 2022 and 2024.
The downward trend of gas prices is good news for Trump. He campaigned to lower gas prices in the country, and up until recently, the results were mixed. Furthermore, given the recent jobs report, which saw the country not achieve its forecasted total and the unemployment rate slightly increase, especially with the rough economic news of the Dow Jones Industrial Average falling 890 points on Monday, a decrease at the pumps is unquestionably welcomed.
However, gas prices are expected to fluctuate in the upcoming weeks and months. Nevertheless, fuel costs vary throughout the country, depending on which state one is in. Some states have much higher prices than others. Each week, in various areas, the price of regular gas decreases depending on the day, while in others, the average cost rises. Mississippi has the country’s lowest average gas prices, at $2.627 per gallon. Meanwhile, California is the most expensive state in the nation for gas, with an average cost of $4.694 per gallon.
In and around Washington, D.C., prices differ depending on the state. In Delaware, the state average for a gallon of regular gas dropped to $2.803 on Tuesday, a 27-cent decrease compared to a month ago. In Virginia, it costs $2.878 for a gallon of regular gas, while in Maryland, it is $2.923. In the nation’s capital, regular gas is more expensive than the national average, and the highest area in the region, with a price of $3.21 per gallon.
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