Gas prices are expected to fall further in 2025, according to the latest analysis.
CNN reported on GasBuddy’s findings, which project that the national average for regular gas will be $3.22 a gallon next year.
This would mark a decrease on the 2024 average of $3.33 and the lowest annual average since 2021 when gas prices under Joe Biden reached a staggering $5 a gallon.
“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 an interview.
FOUR YEARS OF PAIN: Price of a Gallon of Gas Today is DOUBLE What It was 4 Years Ago Under Trump
At a speech back in September, Trump announced his intention to “get gasoline below $2 a gallon,” although De Haan believes this goal is overly ambitious.
“Trump is a bit of a wildcard,” he said. “He tends to destabilize the status quo and that increases risk and makes it harder to predict prices.”
“Our figures are not even on the same planet as what the President-elect has promised,” he continued.
“We just don’t see the stars aligning for President-elect Trump to realize gas prices that low.”
Cutting the cost of gas is more important than just about anything else in curbing inflation because when prices fall, it lowers the cost of transportation for all kinds of essentials that have become unaffordable during the Biden years.
Trump’s strategy to bring the cost down at the pump will involve a multi-layered approach.
The most important part of his strategy will be to expand domestic energy production.
This will be done through the approval of multiple federal drilling permits previously blocked by the current administration.
The plan will also require the rollback of various environmental regulations, the majority of which are intended to mitigate America’s role in climate change.
“The American people can bank on President Trump using his executive power on day one to deliver on the promises he made to them on the campaign trail,” Karoline Leavitt, Trump’s transition spokesperson, recently told Reuters when asked about his domestic energy plans.
“Energy was what caused our problem initially,” Trump declared audience at the Economic Club of New York in September. “Energy is going to bring us back.”
Trump Delivers Remarks at Economic Club of New York
“Energy was what caused our problem initially.
Energy is going to bring us back.” pic.twitter.com/doPCJDnLSk— The Epoch Times (@EpochTimes) September 5, 2024
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