American motorists are receiving an early Christmas present this year, with petrol prices falling to their lowest point in four years during December.
National Average Dips Below $3 Mark
The cost of unleaded petrol has provided consistent relief for drivers. The national average has remained under $3 per gallon since 2nd December, according to recent data. Prices dipped to a low of around $2.85 per gallon on Monday 22nd December, before a slight increase to $2.86 on Tuesday 23rd December.
This represents a significant saving compared to recent history. Nationwide, unleaded petrol is now over 18 cents cheaper than at the same time last year and 21 cents less than just one month ago.
Supply and Oil Prices Drive the Drop
The primary reasons behind this welcome decrease are a robust fuel supply and relatively stable crude oil costs. The benchmark West Texas Intermediate crude oil price has stayed below $60 per barrel for most of December, helping to keep refinery costs in check.
State-by-State Price Variations
While the trend is positive nationally, significant regional disparities remain. On Tuesday 23rd December, drivers in Hawaii faced the highest average prices at about $4.44 per gallon. California followed at $4.30, with Washington state at $3.92.
At the other end of the spectrum, Oklahoma recorded the lowest average price at just $2.30 per gallon. This was closely followed by Arkansas and Iowa, where prices were nearly $2.42.
This seasonal price plunge offers a tangible boost to household budgets and reduces costs for holiday travel, marking the cheapest month for fuel in the United States since 2021.
