The national average price for a gallon of regular gas rose again on Thursday to $3.045, according to AAA . Prices have increased every day this week and are now over two cents more expensive since Monday, when the price was $3.024. Despite recent increases, gas prices have been trending downward in recent weeks. Today, a gallon of regular gas costs $3.063, cheaper than a month ago.
Current prices are the lowest in the country since May 2021, when the average price was $2.985 per gallon, according to the Energy Information Administration . In June 2021, the cost of gas started increasing significantly, eventually reaching record-high averages of over $4 per gallon. After hitting the highest national average price in the country’s history in 2022, costs gradually fell. In 2023, gas prices rose again and peaked in April 2024 before steadily starting to fall 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.