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“Crude oil prices remain relatively unchanged from the end of 2025 and unaffected amid questions about Venezuela’s impact on the oil market,” AAA said
J.R. Duren In Jacksonville, Florida Friday 09 January 2026 20:42 GMT- Bookmark
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Close popoverCloseExperts predict that the average gas price in 2026 could hit a six-year low
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If you’re feeling a little less pain at the gas pump, there’s a reason for that.
The average price for a gallon of regular gas fell to $2.819 Thursday, marking the lowest figure since March 2021, according to roadside assistance and insurance company AAA, which tracks national pricing. The drop continues a trend that pushed gas prices below $2.90 in December for the first time in four years.
AAA said drivers are getting lower prices at the pump because crude oil prices are steady and there’s plenty of oil to go around.
“Crude oil prices remain relatively unchanged from the end of 2025 and unaffected amid questions about Venezuela’s impact on the oil market,” AAA said in a statement. “Currently, the global oil supply is strong, as OPEC+, the coalition of oil-exporting countries, says it’s not planning any production hikes in the first quarter of 2026 due to lower demand.”
Thursday’s gas prices were 25 cents lower than they were a year ago, and around 13 cents lower than a month ago.
Gas prices fell to average of $2.819 per gallon on Thursday, marking the lowest price since March 2021 (Getty Images)Oklahoma remains the cheapest state for gas at an average of $2.25, making it the only state in the country with an average under $2.35. Here are the top five cheapest states for gas, according to AAA:
- Oklahoma: $2.25
- Arkansas: $2.37
- Iowa: $2.37
- Wisconsin: $2.40
- Colorado: $2.41.
Hawaii continues to be the most expensive state for gas at $4.42 a gallon, nearly twice as much as the average price in Oklahoma. The five most expensive states for gas are, according to AAA:
- Hawaii: $4.42
- California: $4.23
- Washington: $3.81
- Alaska: $3.53
- Nevada: $3.37.
Where will gas prices go from here? The average price of a gallon of gas was $3.10 in 2025, according to gas price tracking site GasBuddy.com. The site believes that gas prices will continue their decline in 2026, predicting that the average for the year will be 13 cents lower than 2025, falling to $2.97.
“As global central banks slammed the brakes on an overheated economy and new refining capacity came online, we’ve seen fuel prices ease year after year — a trend few would’ve bet on when chaos ruled the energy market,” GasBuddy Head of Petroleum Analysis Patrick De Haan said in a statement.
“And 2026 keeps that momentum going. It’s not a return to ultra-cheap fuel, but for the first time in a long time, the wind is clearly behind drivers’ backs. If the market avoids major surprises, sustained averages below $3 per gallon could become commonplace in the year ahead.”
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