National gas prices have fallen to their lowest mark in nearly five years, with the average price per gallon now below $2.90 — a milestone officials say reflects improving economic conditions under President Donald Trump’s administration.
By yourNEWS Media Newsroom
Gasoline prices across the United States have dropped to their lowest level since May 2021, according to new data from GasBuddy, which tracks retail fuel prices nationwide.
“The national average has just slipped below $2.90 per gallon for the first time since May 2, 2021,” GasBuddy analyst Patrick De Haan wrote in a post on X. He added that at $2.897 per gallon, the average price is now at its lowest point in 1,680 days.
In its weekly analysis, GasBuddy reported that the national average fell five cents over the last week, down 17.6 cents from a month ago and 7.3 cents from a year earlier. The most common price at the pump nationwide was $2.79 per gallon, 20 cents lower than the previous week.
“With the national average falling further, we’re now at multi-year lows heading into Christmas,” De Haan said. “Barring any major disruptions, prices are likely to stay relatively low into the new year.”
Diesel prices have also declined, dropping 5.1 cents to $3.67 per gallon, GasBuddy said.
The American Automobile Association (AAA) confirmed that as of Dec. 8, the average price for regular gasoline stood at $2.95 per gallon, down five cents from a week ago. The AAA data showed California with the nation’s highest average at $4.46, followed by Hawaii ($4.43) and Washington state ($4.10). Oklahoma reported the lowest at $2.36 per gallon.
The last time Americans paid less than $2.90 on average for gas was in spring 2021. The all-time record high of over $5 per gallon came in June 2022, according to AAA.
The White House on Monday highlighted the GasBuddy data as evidence that the administration’s economic agenda is working.
“It’s part of an emerging trend of strong economic news, backed up by data,” the statement read. “In just the past week, Americans saw the national median rent fall for the fourth straight month, weekly jobless claims plummet to a three-year low, mortgage rates near their lowest level in a year, and consumer sentiment spike.”
The report comes days after President Donald Trump signed an executive measure rolling back Corporate Average Fuel Economy (CAFE) standards — fuel-efficiency regulations that the administration argues drive up vehicle costs.
Treasury Secretary Scott Bessent, a soybean farmer and former hedge fund manager, said the rollback is part of a broader push to lower living costs and stabilize the economy after years of inflationary pressure.
“Inflation is a composite number, and I think we are on a glide path to lower inflation over the coming months,” Bessent told CBS News.
With gas, diesel, rent, and borrowing costs all trending downward, administration officials say the data marks a clear turning point as the U.S. economy heads into 2026.
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