Record Low Gas Prices Bring Relief Just In Time For Winter

GasBuddy®, North America’s trusted source for fuel savings for more than 25 years, today reports that the national average price of gasoline has fallen below $3 per gallon for the first time since May 2021— marking a significant milestone for motorists as the country heads deeper into the winter driving season. According to GasBuddy data, average prices have fallen in all 50 states over the last seven days, an exceptionally rare and broad-based retreat.

"We haven’t seen the national average fall this low in over four years, and the speed and breadth of the decline are remarkable," said Patrick De Haan, head of petroleum analysis at GasBuddy. "Every single state has seen relief at the pump over the past week, a rare feat that underscores how challenging the fundamentals are for gasoline prices right now. This is a welcome break for Americans ahead of the holiday season and comes as refinery maintenance season concludes and gasoline demand weakens seasonally."

GasBuddy also continues to track several dozen stations in Oklahoma, Colorado, and Texas selling gasoline at $1.99 per gallon or less. These ultra-low prices may continue to pop up in select states in the months ahead, provided market conditions remain as favorable as they are today.

The recent drop in gasoline prices has been driven by a combination of easing crude oil costs—helped by additional supply from OPEC+ and continued record U.S. oil production—robust refinery output, and softer seasonal fuel demand. U.S. refineries have returned to strong utilization rates, contributing to rising gasoline inventories at a time when consumption naturally tapers. Meanwhile, subdued market sentiment has kept crude oil benchmarks under pressure, giving additional breathing room to retail fuel prices.

"We could see the national average spend more of the next four weeks below the $3-per-gallon mark than above it— a trend that may continue into the winter before prices begin their typical climb in mid-February," De Haan added. "As we get closer to 2026, the outlook for another friendly year for motorists is strengthening."