Consumers have benefited from falling gas prices in the country recently. After several tumultuous weeks in February, when a rise in gas prices coincided with talks of President Donald Trump issuing tariffs on the nation’s North American neighbors, fuel costs have continued to trend downward for most of March.
On Friday, the national average price for a gallon of regular gas is $3.083, according to AAA. This is substantially lower than the prices of a year ago when former President Joe Biden was in office. Then, regular gas cost consumers $3.412 per gallon. Friday’s price is also cheaper than Biden’s last day in office on Jan. 20, when the national average price for a gallon of regular gas was $3.125.
Fuel costs have been a point of contention in the nation’s political discourse over the last few years. People in the country were forced to pay record highs at the pumps when Biden was in office, causing much economic pain for many consumers. It started during the former president’s first year in office, shortly after his inauguration. After the average price for a gallon of regular gas was $2.476 during Trump’s first term between Jan. 2017 and Jan. 2021, gas prices hit over $3 per gallon beginning in June 2021.
Gas prices continued to soar during Biden’s time in office, eventually reaching a record high of over $5 per gallon, with an average price of $5.032 per gallon, according to the U.S. Energy Information Association. It was the most expensive price in the nation’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.
Fuel costs began to drop slightly in July 2022 and continued to fall gradually for most of the remainder of the year. Gas prices fluctuated between 2022 and 2024 but remained higher than when Trump was in office. In 2024, fuel costs peaked for the year in April before starting to fall again in May. This steady decline would exist for the remainder of the year, dropping to $3.01 per gallon a week before Christmas.
Costs began to rise again after Christmas and then fell on Jan. 20, the day Trump began his second term. Gas prices never returned to the under $3 per gallon price point. It’s a sight that many in the country hope to see during Trump’s second term. Suffice it to say, that many are pleased to see the recent trend of falling gas prices. It is unquestionably a welcomed relief by all.
This article was originally published at www.washingtonexaminer.com
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