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Gas Prices Expected to Drop Below $3 in 2026 Despite Global Uncertainty

KVIA••CNN Newsource
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GasBuddy forecasts that gasoline prices in the U.S. will average $2.97 per gallon in 2026, marking the first time since 2020 that prices dip below $3. This trend follows a significant decline in oil prices, with Americans projected to spend $11 billion less on gasoline compared to 2025, averaging $2,083 per household. Despite geopolitical tensions, including U.S. actions in Venezuela, experts believe these will not significantly impact prices in the short term. The anticipated decrease in prices is a relief for consumers amidst rising costs in other areas such as groceries and utilities.

Key Details: • Gas prices expected to average $2.97 per gallon in 2026. • Projected household spending on gasoline to drop to $2,083 in 2026. • Ten states, including Texas, may see prices below $2.75 per gallon. • GasBuddy anticipates a peak price of $3.12 per gallon in May 2026.

economy oil gas-prices geopolitics consumer-relief

People & Organizations

TexasDonald TrumpVenezuelaUnited StatesPatrick De HaanGasBuddyOPECEIA

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