According to AAA, the average cost for a gallon of regular gas dropped to$ 3.14 on Tuesday, continuing to be that amount. After energy costs started rising at the beginning of February, this was the second day in a row to decrease. Additionally, it’s related to a rise in electricity costs.
The price of oil on Tuesday is more than two percent less expensive than it was at the end of last week. A litre of standard gasoline was$ 3. 161 a week ago, which is a significant cost reduction. However, gas prices are now more expensive than when gas was$ 3.127 per gallon a month ago.
Over the past few years, high gas prices have been a significant problem for people in the nation because they have had an impact on both the economy and person’s finances. During previous President Joe Biden‘s name, the country experienced a significant boost in gasoline costs compared to his father, President Donald Trump. Between Jan. 2017 and Jan. 2021, the average rate for a gallon of regular gasoline was$ 2.476.
That began to change when Biden became president. By June 2021, the price of gas had increased to more than$ 3 per gallon less than six months into his term. Since then, gas prices have never been below$ 3 per gallon.
During Biden’s presidency, the cost of a gallon of regular gas reached$ 4.929 in June 2022, the most expensive fuel in the nation’s history. The following quarter, gasoline prices began to drop. Between 2022 and 2024, energy prices remained higher than they were during Trump’s administration. Energy prices were rising steadily until April 2024, reaching their highest point in the year before falling in May.
Finally, oil prices dropped to$ 3.01 per gallon by mid-December. After Christmas, they started to rise again before falling on January 20, the evening Trump began his next term.
Energy prices vary throughout the nation, depending on where one lives. Some regions are significantly higher than another. Fuel prices rise in different parts of the country as oil prices fall in some parts. Prices range from as low as$ 2.672 per gallon in Mississippi to as high as$ 4.832 in California.
GAS PRICES: SLIGHT DECREASE AT THE PUMPS TO END THE WEEK
In and around Washington, D. C., fuel prices have been trending downward in recent days. Gas prices in the area have significantly stabilized following a turbulent beginning of February. Delaware has the least expensive gas prices in the Delmarva place, with a price of$ 2.917 per gallon. This decreased from a week ago when gas cost$ 2.979 in the First State.
In Maryland, gas prices fell to$ 3.028 per gallon, a drop from last week’s price of$ 3.102. Meanwhile, Virginia’s gas prices fell to under$ 3 per gallon, with a cost of$ 2.992. Washington, D.C., is the state with the highest oil prices in the area and the second-highest among all the states along the Atlantic coast. On Tuesday, a gallon of regular gasoline in the nation’s capital was$ 3.25.
