gas prices

A gallon of gas in California is currently $4.60, about $1.70 more than the national average. But it’s not just because of taxes.

Prices are still rising on most consumer goods, but gas prices fell roughly 20 cents a gallon on average nationwide since January 2025, according to AAA.

U.S. consumers ended the year paying the lowest price at the pump since 2020, thanks to low oil prices and increased supply.

Trend lines indicate both are headed downard.

The U.S. is up, OPEC is down.

Lower crude prices usually mean lower gas prices — but pressures on refineries, including drone attacks on Russian refineries, mean that consumers might not see as much benefit.

A barrel of oil now sells for less than most companies’ break-even point.

And the oil cartel may well decide to just wait and see what happens in the U.S.

On July 15, 1979, amid inflation and long lines at the gas pump, Carter made a speech that in many ways exemplified his presidency.

The U.S. Energy Information Administration reports that pump prices on average were 21 cents lower per gallon in 2024 than they were in 2023.