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Tipsheet

Low Gas Prices Are Defying Expectations As They Continue to Come Down Under Trump's Second Term

Low Gas Prices Are Defying Expectations As They Continue to Come Down Under Trump's Second Term
AP Photo/Jose Luis Magana

Each year, GasBuddy puts out an annual outlook on where they project gas prices to be. President Donald Trump promised to bring down gas prices and enact an energy plan that would do just that and more. Sure enough, with that energy agenda being put in place, we're seeing that. As it turns out, however, gas prices have even come down to an average price that's below what they're expected to be.

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According to GasBuddy, these prices for the past three consecutive months, for March, April, and May, have been even lower than the "range of possible." 

For March, the range was $3.18-$3.41, with the average forecast at $3.30. The actual average was at $3.09, however, for a difference of -$0.21. It only gets better from there. The range for April was $3.24-$3.67, with the average forecast at $3.46 and the actual average at $3.17, for a difference of -$0.29. May was the best of all so far, with a range of $3.34-$3.55, an average forecast of $3.45, and the actual average at $3.15. That's a difference of -$0.30. 

The range of possible for February was $2.94-$3.28, with the average forecast at $3.11 and the actual average coming in at $3.12, for a difference of just $0.01. Trump had been in office for his second term just over a month at the end of February. 

A post from GasBuddy's X account on Monday also showed good news, highlighting a downward trend. The national average is currently at $3.07 per gallon, though the median price and most common price are even lower, at $2.94 and $2.99 a gallon. 

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These numbers are not only welcome under a second Trump administration, but also stand in stark contrast to the Biden-Harris administration. The country saw record high gas prices in June 2022. "The tumultuous year that was 2022 culminated in June, with the national average price of gas reaching $5 per gallon for the first time ever recorded on June 9. Many states at this time saw averages sitting in the $4 range, and California saw average prices near the $7 per gallon mark," a GasBuddy year in review for 2022 discussed

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