By Myra P. Saefong Published: March 17, 2025 at 1:08 p.m. ET
U.S. drivers are paying $3.02 a gallon on average for gas, according to GasBuddy.Photo: Joe Raedle/Getty Images
The average price for gasoline at the pump has declined for a fourth straight week and may fall below $3 a gallon to the lowest level in years, but that’s no reason to celebrate, according to fuel-price tracker GasBuddy.
“As concerns over tariffs and policy uncertainties grow, gas prices have continued to decline across much of the country, raising the possibility that the national average could slip below $3 per gallon and approach some of the lowest prices seen in years,” said Patrick De Haan, head of petroleum analysis at GasBuddy.
As of Monday, the national average price was $3.02 a gallon, down 1.3 cents compared with a week ago, at, GasBuddy reported. It’s down 10.6 cents from a month ago and 42.4 cents lower than a year ago.
However, if gas prices do fall to their lowest level in years, that “shouldn’t necessarily be celebrated, as it comes with strong warning signs,” De Haan said in emailed comments.
‘When the economy slows, gasoline demand drops — along with demand for other refined products like diesel and jet fuel.’
— Patrick De Haan, GasBuddy
“When the economy slows, gasoline demand drops — along with demand for other refined products like diesel and jet fuel,” he said. “We’ve already seen some signals that the months ahead could be challenging.”
Average U.S. prices for gasoline at the pump haven’t fallen below $3 a gallon since December, which saw the lowest levels since May 2021, GasBuddy data show.
Photo: GasBuddy
Data from GasBuddy show that average gas prices fell to as low as $2.973 a gallon on Dec. 8, 2024, but haven’t been below that level since May 2021. Prices are still far from the lowest average recorded by GasBuddy, based on data going back to 2001, which was $1.592 a gallon on Dec. 29, 2008.
“Gas prices are likely to remain low for now,” De Haan said. “If economic conditions improve, gas prices could eventually follow suit and start rising again.”
The cost of gas at the pump has fallen against a backdrop of volatility in oil prices, which have been ”confined” in a range of the upper $60s per barrel, according to GasBuddy.
In Monday trading, oil prices moved higher, finding support after the U.S. over the weekend launched strikes on Houthi rebels in Yemen, raising the risk of disruptions to oil flow in the region. Optimism over the prospect for additional economic stimulus from China also contributed to oil’s rise.
The April West Texas Intermediate crude futures contract, CL.1 +0.15% CLJ25+0.18%,
was up 41 cents, or 0.6%, at $67.59 a barrel on the New York Mercantile Exchange in Monday dealings. Prices settled a week ago at their lowest in six momonths.
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U.S. drivers are paying $3.02 a gallon on average for gas, according to GasBuddy.Photo: Joe Raedle/Getty Images
The average price for gasoline at the pump has declined for a fourth straight week and may fall below $3 a gallon to the lowest level in years, but that’s no reason to celebrate, according to fuel-price tracker GasBuddy.
“As concerns over tariffs and policy uncertainties grow, gas prices have continued to decline across much of the country, raising the possibility that the national average could slip below $3 per gallon and approach some of the lowest prices seen in years,” said Patrick De Haan, head of petroleum analysis at GasBuddy.
As of Monday, the national average price was $3.02 a gallon, down 1.3 cents compared with a week ago, at, GasBuddy reported. It’s down 10.6 cents from a month ago and 42.4 cents lower than a year ago.
However, if gas prices do fall to their lowest level in years, that “shouldn’t necessarily be celebrated, as it comes with strong warning signs,” De Haan said in emailed comments.
‘When the economy slows, gasoline demand drops — along with demand for other refined products like diesel and jet fuel.’
— Patrick De Haan, GasBuddy
“When the economy slows, gasoline demand drops — along with demand for other refined products like diesel and jet fuel,” he said. “We’ve already seen some signals that the months ahead could be challenging.”
Average U.S. prices for gasoline at the pump haven’t fallen below $3 a gallon since December, which saw the lowest levels since May 2021, GasBuddy data show.
Photo: GasBuddy
Data from GasBuddy show that average gas prices fell to as low as $2.973 a gallon on Dec. 8, 2024, but haven’t been below that level since May 2021. Prices are still far from the lowest average recorded by GasBuddy, based on data going back to 2001, which was $1.592 a gallon on Dec. 29, 2008.
“Gas prices are likely to remain low for now,” De Haan said. “If economic conditions improve, gas prices could eventually follow suit and start rising again.”
The cost of gas at the pump has fallen against a backdrop of volatility in oil prices, which have been ”confined” in a range of the upper $60s per barrel, according to GasBuddy.
In Monday trading, oil prices moved higher, finding support after the U.S. over the weekend launched strikes on Houthi rebels in Yemen, raising the risk of disruptions to oil flow in the region. Optimism over the prospect for additional economic stimulus from China also contributed to oil’s rise.
The April West Texas Intermediate crude futures contract, CL.1 +0.15% CLJ25+0.18%,
was up 41 cents, or 0.6%, at $67.59 a barrel on the New York Mercantile Exchange in Monday dealings. Prices settled a week ago at their lowest in six momonths.
L|A
