Consumer News: Gas prices are falling into the end-of-the-year holidays

The average price is down 5 cents from the previous week

By Mark Huffman of ConsumerAffairs

• National average gas price falls 5 cents to $2.90 per gallon

• Prices now at multi-year lows heading into Christmas

• Diesel drops another 5.1 cents to $3.67 per gallon

The cost of groceries may still be high, but the price consumers pay at the gas pump continues to move lower.

The national average price of regular gasoline dropped another five cents this week to $2.90 per gallon, according to new data from GasBuddy. Prices are now 17.6 cents lower than a month ago and 7.3 cents cheaper than this time last year, an early holiday gift for millions preparing to hit the road.

Diesel prices also continue to ease, slipping 5.1 cents to $3.671 per gallon.

Gas prices continued to decline in most states last week, while some price-cycling states saw temporary spikes to restore margins, Patrick De Haan, head of petroleum analysis at GasBuddy, said in the companys blog.

With the national average falling further, were now at multi-year lows heading into Christmas. Diesel prices are also easing Barring any major disruptions, prices are likely to stay relatively low into the new year.

Oil prices hold steady

Oil prices remained relatively steady last week, with West Texas Intermediate (WTI) moving between the upper-$58 and low-$60 range. A mix of geopolitical tension, including disruptions to overseas energy infrastructure, and economic uncertainty kept prices from breaking meaningfully higher or lower.

WTI posted a slight weekly gain, rising from $58.91 to about $59.55, though early Monday trading saw a 53-cent dip. Brent crude followed a similar path, slipping 53 cents to $63.22 while still edging above last weeks level.

Analysts say the market is awaiting a catalyst. With the Ukraine/Russia peace deal negotiations still ongoing, oil prices remain rangebound with the lack of large onshore oil inventory builds, said Giovanni Staunovo, UBS commodities analyst, noting that upcoming energy agency reports could show stronger-than-expected demand revisions.

Supplies remain tight

The latest Energy Information Administration data for the week ending Nov. 28, 2025, points to modest increases in U.S. fuel inventories:

• Crude oil stocks: +0.6 million barrels; still ~3% below seasonal norms

• Strategic Petroleum Reserve: +300,000 barrels to 427.5 million

• Gasoline inventories: +4.5 million barrels; ~2% below the five-year average

• Distillates (diesel/heating oil): +2.1 million barrels; ~7% below average

Refinery utilization climbed to 94.1%, while implied gasoline demand fell by 400,000 barrels per daya seasonal slowdown that typically eases retail prices.

What drivers across the U.S. are paying

The most common pump price nationwide is $2.79 per gallon, followed by clusters around $2.89, $2.69, $2.99, and $2.59.

The median price matches the most common at $2.79, putting it 11 cents below the national average.

Price disparities remain wide:

• Top 10% of stations: Average $4.23

• Bottom 10%: Average $2.25

Lowest state averages

• Oklahoma: $2.30

• Colorado: $2.40

• Texas: $2.42

Highest state averages

• California: $4.41

• Hawaii: $4.34

• Washington: $4.04

Biggest weekly price drops

• Nevada: 16.3

• Colorado: 14.8

• Utah: 14.6

• Michigan: 13.0

• Washington: 12.2

With fuel prices sliding and oil markets showing no major signs of heating up, drivers are likely to see relatively low prices through the holidays and possibly into early 2026. In some of the nations cheapest markets, stations are already posting prices in the low-$2 rangeand a few remain under $2.

Unless a major geopolitical event or supply issue disrupts the market, the seasonal dip in demand and healthy refinery output should help keep pump prices stable for now.