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Gas Prices Expected to Drop Below $3 in 2026, Easing Financial Strain

KVIA••CNN Newsource
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Forecasts indicate that gas prices in the U.S. will average $2.97 per gallon in 2026, marking the first time since 2020 that prices fall below $3. This trend follows a significant decline in oil prices, attributed to increased global supply and a rebalancing market post-COVID. Despite recent U.S. military actions in Venezuela, experts believe there will be minimal immediate impact on gas prices due to the time required to restore Venezuela's energy infrastructure. This anticipated decrease in gas prices could provide relief to consumers facing rising costs in other areas, such as groceries and utilities.

Key Details: • Projected average gas price in 2026: $2.97 per gallon • Expected peak price in May 2026: $3.12 per gallon • Household gas spending expected to decrease from $2,716 in 2022 to $2,083 in 2026 • Ten states, including Texas, forecasted to have average prices below $2.75 per gallon

economy energy oil gas-prices inflation

People & Organizations

TexasDonald TrumpVenezuelaPatrick De HaanGasBuddyOPEC

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