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Americans hitting the road for Memorial Day weekend are likely to enjoy the lowest gas prices in more than two decades, according to projections from fuel analytics firm GasBuddy.
The national average price of gasoline is expected to drop to $3.08 per gallon, marking the lowest price since 2021 and, when adjusted for inflation, the most affordable since 2003.
The decrease in fuel prices is primarily due to increased oil production, which has driven down the cost of crude oil. Brent Crude currently trades at $65.07 per barrel, a significant drop from $83.71 at the same time last year.
“This Memorial Day, drivers will find the cheapest holiday prices at the pump in years,” GasBuddy analysts noted, adding that continued supply growth could sustain the trend through the summer. Average prices between Memorial Day and Labor Day are projected to hover near $3.02 per gallon, with some days possibly dipping below the $3 mark.
The drop in gas prices is especially timely for summer travelers. According to GasBuddy’s 2025 Summer Travel Survey, 69 percent of Americans plan to take at least one road trip in the coming months, making lower fuel costs a welcome relief for millions.
The trend is also viewed as a policy win for President Donald Trump, who campaigned to reduce energy costs. His administration’s efforts to expand domestic energy production have contributed to the market conditions that helped lower prices.
According to the Associated Press, based on the latest data from the Consumer Price Index, other travel expenses like car rentals and hotel stays may also be more affordable.
Since the start of Trump’s second term, U.S. oil prices have fallen roughly 20 percent. Analysts attribute the decline partly to increased oil output by Saudi Arabia and OPEC, actions Trump encouraged just days after returning to office.
The news also comes just ahead of Trump’s “big beautiful bill” heading toward a vote in the House. If signed into law, it would help secure Trump’s previous tax cuts and other savings measures for many Americans.
