The average price for a gallon of regular gas remained steady after five days of increases last week.
According to AAA , the national average cost for a gallon of regular gas on Monday is $3.042. This price is higher than the $3.024 per gallon price a week ago. Before last week’s increases, the cost had fallen to $3.011 earlier this month.
Despite the recent increases, gas prices in the nation had been falling for weeks. Currently, the national cost of gas is the lowest since May 2021, when the average price was $2.985 per gallon, according to the Energy Information Administration . In June 2021, prices rose, eventually reaching record-high averages of over $4 per gallon. Gas prices began to fall after setting the highest national average price in the country’s history in 2022. In 2023, gas prices rose again and peaked in April 2024 before steadily dropping in May.
Gas prices have been a controversial political topic for most of the time President Joe Biden has been in office. After reaching record national prices, Biden assured the nation that gas prices would fall. Years later, near the end of his term, that promise has finally come to fruition. Nevertheless, despite this year’s substantial decrease in gas prices, gas costs remain higher now than when President-elect Donald Trump was in office between January 2017 and January 2021.