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Gas Prices Drop Below $3 for First Time in Four Years

12/9/2025

23 3 Full Breakdown

Center

Gas Prices Plummet

Gas prices fell below $3 per gallon for the first time in four years, with the national average at $2.897.
California remains the highest at $4.414, while Oklahoma is the lowest at $2.298.
GasBuddy's Patrick De Haan says prices are likely to stay low into the new year.
U.S. President Donald Trump faces criticism for not fulfilling his promise to lower prices further.

Right

Iowa Gas Prices Drop

Iowa gas prices averaged $2.55 per gallon, down 11.2 cents in the past week, with a 26.2-cent drop from a month ago and an 11.7-cent decline from last year.
The cheapest Iowa station was $2.09 and the most expensive $5.11, highlighting a broad local price range.
Nationally, gasoline prices average $2.90 per gallon, with diesel prices falling to $3.671 per gallon.

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Michigan Gas Prices Drop

Gas prices in Michigan fell by 14 cents to $2.82 per gallon.
The drop is 33 cents below last month and 13 cents under last year.
The Energy Information Administration notes gasoline demand declined while supply rose.
Production averaged 9.8 million barrels per day, with crude oil inventories rising slightly and remaining about 3% below the five-year average.
AAA spokesperson Adrienne Woodland says prices may continue to decline.

History

Historical Context

The 1973 Oil Crisis emerged from U.S. production peaks in the late 1960s and escalated during the Yom Kippur War when OAPEC imposed an oil embargo, causing U.S. gasoline prices to surge from $0.36 to $1.20 per gallon. This crisis highlighted the vulnerability of industrialized nations reliant on Middle Eastern oil, prompting shifts toward energy conservation and altering global energy dynamics.

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Gas Prices Plummet

Gas prices fell below $3 per gallon for the first time in four years, with the national average at $2.897.
California remains the highest at $4.414, while Oklahoma is the lowest at $2.298.
GasBuddy's Patrick De Haan says prices are likely to stay low into the new year.
U.S. President Donald Trump faces criticism for not fulfilling his promise to lower prices further.

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