Gas prices have officially fallen to a four-year low under the Trump administration. The national average price for a gallon of gas dropped this week, bringing the cost to its lowest since 2021.
The drop in gas prices was welcome news leading into the July 4 holiday weekend. President Trump celebrated the news in a post on Truth Social on Wednesday.
According to data released by Gas Buddy, the price of gas has fallen 3.8 cents since last week, bringing the national average cost to $3.14 per gallon. The price reduction has been the result of tensions easing in the Middle East following the conflict between Israel and Iran in recent weeks.
Patrick De Haan, the head of petroleum analysis at GasBuddy, characterized the fall in gas prices as a byproduct of the progress in the geopolitical atmosphere and said the trend was likely to continue through the weekend. According to De Haan, people traveling to celebrate Independence Day can expect gas prices to “continue falling nearly coast to coast in the lead-up to July 4.”
De Haan also indicated that if the conflict in the Middle East continues to progress towards resolution and the U.S. does not experience a major hurricane, the national average would likely fall below $3 per gallon by the end of the summer.
The data released by Gas Buddy shows $2.99 per gallon as the most common gas price for travelers around the country. States with the lowest gas prices are Oklahoma ($2.67 per gallon), Mississippi ($2.68 per gallon), and Texas ($2.72 per gallon). Travelers will find the highest prices in California ($4.53 per gallon), Washington ($4.39 per gallon), and Hawaii ($4.39 per gallon).
The White House celebrated the news as a welcome relief for Americans, estimating that travelers in the U.S. could save as much as $500 million on gasoline costs over the holiday weekend.
