Gas Prices Expected to Drop in 2025 for Third Straight Year

ECONOMY News

Gas Prices Expected to Drop in 2025 for Third Straight Year
GAS PRICESINFLATIONECONOMY
  • 📰 cnnbrk
  • ⏱ Reading Time:
  • 75 sec. here
  • 8 min. at publisher
  • 📊 Quality Score:
  • News: 50%
  • Publisher: 55%

GasBuddy predicts a national average of $3.22 per gallon in 2025, marking the lowest average since 2021.

More good news is coming to inflation-weary drivers: Gas prices are expected to drop in 2025 for the third straight year, according to GasBuddy projections shared exclusively with CNN. GasBuddy, which has accurately forecasted gas prices the past several years, expects the national average for regular gas to fall to $3.22 a gallon next year. That would mark a modest decline from about $3.33 in 2024 and mark the lowest annual average since 2021.

The forecast for muted prices at the pump is a far cry from the spike above $5 a gallon nationally in mid-2022, an unprecedented surge that rocked the American economy, crushed consumers and became the epicenter of the inflation crisis. Based on the new forecast, GasBuddy expects Americans will spend about $115 billion less on fuel in 2025 than they did in 2022. “2025 looks to continue the trend of slow-but-steady improvement at the pump,” Patrick De Haan, GasBuddy’s head of petroleum analysis, told CNN in a phone interview. GasBuddy expects the national average will stay safely below $3.50 a gallon each month of 2025, even during the peak driving season of late spring and early summer. The typical household is expected to spend $2,252 next year on fuel. That would be above the pre-Covid level of $1,952 in 2019 but well below the record high of $2,715 in 2022. However, De Haan warned that this projection for tame gas prices could be disrupted by several X-factors, including President-elect Donald Trump’s threatened tariffs on Canada and Mexico. “Trump is a bit of a wildcard. He tends to destabilize the status quo and that increases risk and makes it harder to predict prices,” said De Haan. Sub-$2 gas is unlikely Gas prices, highly visible and difficult for many to avoid, play an outsized role in how Americans feel about the economy and their financial health. They serve as a real-time barometer for the cost of living and influence consumer psycholog

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

cnnbrk /  🏆 393. in US

GAS PRICES INFLATION ECONOMY CONSUMER SPENDING FORECAST

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

US Gas Prices Expected to Decline in 2025US Gas Prices Expected to Decline in 2025Gas prices in the United States are projected to decrease in 2025 due to easing inflation and increased domestic oil production. GasBuddy predicts the national average price per gallon of regular gas will fall to $3.22 in 2025 from $3.33 in 2024.
Read more »

iPhone Prices Expected to Rise in 2025iPhone Prices Expected to Rise in 2025Analyst Jong Wook Lee from Samsung Securities predicts a price hike for the 2025 iPhone lineup next September. Lee cites declining profit margins due to no price increase this year. Additionally, potential 10% tariffs on Chinese imports could also contribute to the price rise.
Read more »

Egg Prices Expected to Remain High Through 2025 Due to Bird FluEgg Prices Expected to Remain High Through 2025 Due to Bird FluExperts predict that egg prices will continue to rise into 2025 due to the ongoing impact of bird flu and seasonal price increases.
Read more »

Edmunds hybrid sedan comparison: 2025 Honda Civic vs. 2025 Hyundai ElantraEdmunds hybrid sedan comparison: 2025 Honda Civic vs. 2025 Hyundai ElantraSimilar in size and fuel economy, these two hybrid compact sedans differ from there.
Read more »

Edmunds hybrid sedan comparison: 2025 Honda Civic vs. 2025 Hyundai ElantraEdmunds hybrid sedan comparison: 2025 Honda Civic vs. 2025 Hyundai ElantraSimilar in size and fuel economy, these two hybrid compact sedans differ from there.
Read more »

Edmunds hybrid sedan comparison: 2025 Honda Civic vs. 2025 Hyundai ElantraEdmunds hybrid sedan comparison: 2025 Honda Civic vs. 2025 Hyundai ElantraSimilar in size and fuel economy, these two hybrid compact sedans differ from there. The 2025 Honda Civic Hybrid boasts much stronger performance and a higher-quality cabin, while the 2025 Hyundai Elantra Hybrid provides more features for the money and better tech. There are advantages for both, but when the Civic is ahead, it’s ahead big time.
Read more »



Render Time: 2025-02-16 06:46:31