Gas Prices Creeping Near Lowest Level in Four Years Ahead of Thanksgiving Holiday

Gas prices are creeping near their lowest level in four years ahead of the Thanksgiving holiday, with the national average hovering just above $3 per gallon.

According to AAA, the national gas price average stood at $3.055 on Tuesday. One week ago, the national average stood around $3.077.

ABC News added some perspective to this, noting that “each of the last two years have come in below Thanksgiving Day gas prices going back to 2020, when the pandemic slashed demand and cratered prices.”

It added:

The decline in gas prices is owed in part to a steep drop in the cost of crude oil, the underlying commodity that refineries turn into gas, Patrick de Haan, the head of petroleum analysis at GasBuddy, told ABC News Live. The global benchmark price of Brent crude oil has fallen about 17% since June, clocking in at about $63.40 per barrel.’’

Several states have gas prices under $3 per gallon, including Georgia, South Carolina,North Carolina, Virginia, Indiana, Ohio, Minnesota, Texas, and several more.

AAA added that  “overall demand is low this time of year which helps keep pump prices down” and that “the national average has seen few fluctuations in 2025 thanks to low crude oil prices and no major storms affecting Gulf Coast refineries. ”

This is welcomed news for travelers, as 73 million of the estimated 82 million expected to travel over the Thanksgiving holiday period are journeying via car.

All of this stands as a drastic change from the figures seen during the Biden administration, when gas prices skyrocketed, breaking records day after day in the summer of 2022. The highest national average was recorded on June 14, 2022, landing at $5.016 for a gallon of regular unleaded. Five days later, the price of diesel broke its record, averaging $5.816 per gallon nationally.

As Breitbart News reported in October, gas prices finally fell below $3 for the first time in four years – a tremendous victory for the Trump administration, which is hyper-focused on affordability.

“Gas prices have finally fallen below $3 per gallon nationally — the earliest date we’ve seen a $2.99 national average since 2020, when COVID was the primary driver of low prices,” GasBuddy’s head of petroleum analysis Patrick De Haan said at the time.