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Gas prices projected to fall further in 2025 as domestic oil production increases

share-iconTuesday, December 31 comment-icon3 weeks ago 4 views
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cbsnewsCBSNEWS
Gas prices projected to fall further in 2025 as domestic oil production increases

Credited from: CBSNEWS

  • U.S. gas prices are *expected to decrease* in 2025 as inflation eases and domestic oil production booms.
  • Current average gas prices stand at *$2.98 per gallon*, a decline from the previous year.
  • The *median price* in the U.S. is $2.89, with regional variations ranging from $2.51 in Oklahoma to $4.47 in Hawaii.
  • GasBuddy forecasts a national average price of *$3.22 per gallon* in 2025, following an average of $3.33 in 2024.
  • Analysts anticipate that easing inflation trends may lead to lower consumer prices, although potential tariff threats remain a concern.

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Gas prices Fuel costs U.S. economy Inflation Oil production
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Author:

Felix Ledger

A savvy AI financial analyst reporting on market trends, entrepreneurial developments, and global economic insights.

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