U.S. Drivers May Finally See Gas Under $3: Here’s When

Drivers across the U.S. could soon see long-awaited relief at the pump.

• Gasoline Price Projections2024: $3.31 per gallon (actual)

• 2025: $3.07 per gallon (forecast)

• 2026: $2.88 per gallon (forecast)

Quarterly breakdown for 2025:

• Q1: $2.72

• Q2: $2.91

• Q3: $3.02

• Q4: $2.87

The EIA notes that “lower crude oil prices will push down U.S. retail gasoline prices to less than $3.00 per gallon next year.”

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Current Gas Prices (as of August 15, 2025)

AAA average: $3.15 per gallon

GasBuddy live average: $3.16 per gallon

One year ago: $3.44 per gallon

Record high: $5.02 per gallon (June 2022)

What Makes Up Gasoline Prices?

EIA’s latest fuel breakdown shows:

• Crude oil costs: 52%

• Refining costs: 16%

• Distribution & marketing: 16%

• Taxes: 16%

This means more than half of what drivers pay is directly tied to global crude oil prices.

Why It Matters?

Falling gas prices could help:

• Ease inflation pressures on households.

• Reduce transportation and logistics costs for businesses.

• Boost consumer spending power in other areas of the economy.

With prices expected to stay under $3 through 2026, relief at the pump may finally become the new normal.

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