The national gas price rollercoaster seems to have hit a slight dip, with the average hitting a refreshing $3.063 per gallon. This new low hasn’t been seen since June 2021, right before gas prices embarked on a price hike that would make the most ambitious inflation artist jealous. AAA has confirmed this drop, but it’s important to note that this fleeting moment of relief has come after a long series of price spikes that have put pressure on wallets across the nation.
This gas price headache is largely pinned on the Biden administration, which has been navigating the high seas of soaring gas prices for over three years. After reaching historic highs in 2022 that had even the most budget-conscious drivers clutching their pearls, there was finally a decline later that year. But like a bad sequel, 2023 served up another round of price surges, only to see prices begin to drop again in May. The biggest irony of it all? Even with these recent reductions, gas prices still hover above what most drivers experienced during Trump’s tenure. As gas prices continue to dance around nationwide, one can’t help but feel a sense of nostalgia for the days when filling up didn’t feel like a home mortgage payment.
Gas prices matched their lowest price since May 2021 last Sunday @gasbuddy https://t.co/llQyxkw4ud pic.twitter.com/5kVMLPMoWe
— Mike Zaccardi, CFA, CMT 🍖 (@MikeZaccardi) November 13, 2024
Among the states, Hawaii continues to be the poster child for outrageous gas prices, with the average hitting $4.573 per gallon. Meanwhile, Oklahomans are holding a gas price party, enjoying the lowest prices in the country at just $2.565. Clearly, there’s a gaping disparity between those states, which raises the question of whether gas price fairness is on the agenda for the next congressional session, or if they’ll continue to ignore it like a kid ignores vegetables.
Delaware, in a move that shocked precisely no one, saw gas prices rise again. The price for a gallon of regular gas has jumped to $3.12, marking a nearly six-cent increase since Friday. This spike reflects a troubling trend that has seen prices in the First State go up by over 16 cents in just a week. Those in Delaware must be shaking their heads, as they now find themselves paying more for gas than they were just a month ago.
Over in Maryland, things took a small turn for the better, with gas prices nudging down to $3.203. However, this improvement is only relative because it represents a slight rise since Friday, and a whopping increase from last week. One can almost hear M. Night Shyamalan’s “twist” music playing in the background as prices that briefly dipped below $3 per gallon surged back, leaving Maryland drivers wishing for the days of consistent, reasonable gas prices.
Virginia and Washington, D.C., are following similar patterns. Virginia’s prices whittled down to $2.997, which feels more like a consolation prize than an actual victory. D.C., meanwhile, is also experiencing some mild price fluctuations with gas sitting at $3.257. It seems people who fill up in these areas will continue to experience “steady” prices, which is amusing in a somewhat tragic way, considering “steady” these days still means more than most people want to pay. All in all, it’s clear that while gas prices may be dipping slightly, the underlying issues causing these fluctuations are far from resolved and will keep pushing the average American driver on an emotional rollercoaster.