Gasoline Prices: National average drops to below $3.04 per gallon

The price of gas has gradually fallen since the summer. Tuesday’s price is the lowest national average price for gas since May 2021, when the average cost of regular gas was $2.985 per gallon, according to the Energy Information Administration. Since then, high gasoline prices have placed a financial burden on motorists, topping $3 per gallon and briefly exceeding $4 per gallon.

For most of his time in office, President Joe Biden suffered from the country’s high gas prices. After reaching record highs in 2022, the highest in the country’s history, gas prices began to decline later in the year. After another increase in 2023, gas prices began to decline again in May 2024 and have continued to decline each month.

However, despite the significant decline in gas prices over the last half of the year, prices are still higher than when President-elect Donald Trump was in office between January 2017 and January 2021. Trump will take office on January 20. Until 2025, it remains to be seen how gas prices will develop during Trump’s second term.

Meanwhile, gas prices continue to fluctuate across the country. Hawaii has the highest gasoline prices in the country at $4,566 per gallon. Meanwhile, Oklahoma has the cheapest gasoline in the country at $2,497 per gallon. Click here to see gas costs in different states. Read below to learn the average price of a gallon of regular gasoline in and around Washington, DC

Delaware

Gasoline prices in Delaware fell to $2.942 a gallon on Tuesday. That was down more than six cents from the week before, when a gallon of regular gasoline cost $3,008. Over the last month, gas prices in the First State have fluctuated wildly. The last peak for regular gas in Delaware was in late November, when a gallon of regular gas cost $3,081. But a month ago, gasoline prices had fallen to $2.969 a gallon. Overall, the price of gas in the state Tuesday was cheaper than this time last year, when the price was $3.103 a gallon.

Maryland

Gasoline prices also fell in Maryland on Tuesday to $3.034 per gallon. This was a decrease from the previous week, when a gallon of regular gasoline cost $3.09 in Maryland. Similar to Delaware, Maryland also experienced significant price fluctuations in November. Gasoline prices in Maryland had skyrocketed in early November, reaching $3,157 about two weeks ago. However, gas prices in the state have been trending downward lately. Tuesday’s price was cheaper than a month ago, when regular gasoline cost $3.062 a gallon.

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Virginia

Like Delaware and Maryland, the average price of a gallon of regular gasoline in Virginia fell to $2.925 on Tuesday. This was a slight decrease from last week, when the cost was $2,952 per gallon. Gas prices have also fluctuated in Virginia over the past month, but recently the price of gasoline has hovered around $3 per gallon. Tuesday’s price in the state is cheaper than a month ago, when Virginians paid $3,011 a gallon.

Washington, D.C

Gas prices in Washington, DC have remained stable in recent weeks, with the average price for a gallon of regular gas in the $3.24 to $3.30 price range. Tuesday’s price of $3.24 was a very slight decrease from Monday’s price of $3.242 per gallon, but a very slight increase from the previous week when the price was $3.235 per gallon. A month ago, a gallon of regular gasoline cost drivers $3,281 per gallon in the nation’s capital.