Gas prices are the lowest since 2021 [View all]

[BumRushDaShow]

Source: Axios

4 hours ago


Gas prices haven't been this low since spring 2021.

Why it matters: Displayed prominently on big signs everywhere you drive, prices at the pump are a key economic indicator for the general public.

The recent lows are a big sign that inflation is increasingly in our rear-view mirror.

And, of course, the lower prices are happy news for drivers — especially ahead of the holiday driving season.

By the numbers: The average gallon of gas cost $2.98 on Monday, and has been under $3 since Saturday, according to GasBuddy data.

Between the lines: The good news comes too late for the Biden administration, which suffered politically when inflation and the war in Ukraine drove prices above $5 a gallon in 2022.

Instead, low gas prices are more likely to benefit President-elect Donald Trump, who campaigned on bringing them down

.

Read more: https://www.axios.com/2024/12/09/gas-prices-us-average-lowest-biden

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