Headline Roundup • December 2nd, 2025
Gas Prices Drop Below $3, Lowest Since 2021
Summary from the AllSides News Team
Gas prices in the US have dropped below an average of $3 a gallon on Tuesday for the first time since May 2021.
The Details: The national average for regular gas dropped to $2.998 a gallon, according to AAA. Gas Buddy places the average even lower at $2.95 a gallon, saying the decrease in price is due to completed refinery maintenance and an increase in oil production. Ohio, Michigan, New Mexico, Oklahoma, and Texas had the sharpest declines reported over the last several weeks. Diesel prices also dropped, with a 5.5-cent decrease in the national average over the last week.
For Context: Several outlets across the political spectrum analyzed the price of typical Thanksgiving expenses, comparing them to recent years and finding that inflation affected everything except for gas prices, which were found to be the lowest since the COVID-19 pandemic. Some analysts predict that gas prices will continue the downward trend as oil supplies continue to exceed demand, with JPMorgan predicting that a barrel of crude oil that sells for $59 today may drop to the $30s by the end of 2027.
How The Media Covered It: CNN Business (Lean Left bias) framed the price drop as a "milestone" representing "a rare feel-good story in a years-long affordability crisis marked by high prices for necessities." The article highlighted President Donald Trump's promises to "slash grocery prices," saying although "they have not borne out and electric bills have increased sharply, gas is a bit cheaper than it was at this point last year." The National Pulse (Right) reported on the "significant" drop in gas prices while linking back to other articles highlighting Labor Day 2025 prices being at a 5-year low. It also highlighted how Janet Yellen, former Treasury Secretary under Joe Biden, said in February 2024 that "high prices are here to stay." Daily Mail (Lean Right) highlighted Donald Trump's remarks during a cabinet meeting on Tuesday, where he said, "The word affordability is a Democrat scam," explaining that "They say it, and then they go into the next subject, and everyone thinks, oh, they had lower prices."
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Featured Coverage of this Story
U.S. gas prices paid by American drivers have fallen to their lowest levels since May 2021, according to data from GasBuddy. The average cost of gasoline is now $2.95 per gallon, reflecting an 8.5-cent drop over the past week and a 5.4-cent decrease compared to last year.
Brandon Bell/Getty Images
The last time gasoline was this cheap, 4% inflation seemed alarming, JD Vance was still a private citizen and the United States had only just begun its messy withdrawal from Afghanistan.
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