Gas prices: Seven-cent decrease from a week ago

The national average price for a gallon of regular gas fell on Monday. 

The dip in fuel costs was a seven-cent drop from a week ago to $3.184, according to AAA. It comes after weeks of economic uncertainty regarding tariffs and other geopolitical issues.

Gas prices have cooled off after steadily rising since the middle of March. The national average cost for a gallon of regular gas increased from $3.078 per gallon on March 18 to $3.268 on April 4, prices began to fall, with the most recent downward trend beginning last week. As such, the average cost of regular gas in the country is more expensive today than a month ago, when it was $3.083 per gallon. 

Gas prices are regularly part of the country’s political discussions as stability in gas prices appears to be a thing of the past. This is especially true since the Biden administration when high fuel costs were a regular problem for people in the country. The average price for regular gas during President Donald Trump’s first term between January 2017 and January 2021 was $2.476 per gallon. Comparatively, less than six months after President Joe Biden’s term began, fuel costs jumped to over $3 per gallon in June 2021.

Gas prices became much more expensive as Biden’s term progressed. About 18 months into his presidency, fuel costs were at a record high of over $5 per gallon, hitting the pricepoint of $5.032 per gallon, according to the U.S. Energy Information Association. It was the highest mark for a gallon of regular gas in the country’s history. The following month, the average price dropped to $4.92 per gallon for regular gas, a record for the highest average price for regular gas in a single month.  

Prices dropped slightly in July 2022 and gradually fell for the year. Over the next two years, costs fluctuated but remained above the $3 per gallon threshold and higher than when Trump was in office. By April 2024, the national average price for a gallon of regular gas peaked for the year and began decreasing the following month. This gradual drop in cost would continue for the remainder of the year, falling to a national average price of $3.01 per gallon shortly before Christmas. 

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Gas prices also vary depending on the region and state. The country’s highest gas prices are on the West Coast, while the least expensive prices are in the Gulf States region. Currently, Mississippi has the lowest statewide average cost for a gallon of regular gas in the nation at $2.715. Oklahoma is slightly behind at $2.72. Tennessee is next at $2.722, then South Carolina at $2.766 per gallon, and Texas at $2.769. 

California, meanwhile, has an average statewide gas price approaching $5 per gallon. On Monday, the average cost for a gallon of regular gas in the Golden State was $4.894. Hawaii is the next most expensive state, at $4.514 per gallon. This is followed by Washington (state) at $4.364. The states with the next two highest averages are below the $4-per-gallon threshold, with Oregon’s average fuel price at $3.98 per gallon and Nevada’s at $3.939.

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