Staff Reports
Gas prices are dropping, and it seems the Biden administration might be starting to feel the heat—just not the kind they expected. The national average for a gallon of regular gas hit $3.071, the lowest so far in 2024. It begs the question: did Biden finally figure out how to open the spigots, or is this just a temporary reprieve from more financial pain? Regardless, these prices are lower than they’ve been since June 2021, which is just another reminder of how long it has taken to see even a modest decrease from the gas-price hellscape of the last few years.
Since taking office, the Biden administration has faced a relentless barrage of high gas prices. These prices peaked during the chaotic energy crisis of 2022, leaving American families gasping for breath—or at least gasping for a break from paying exorbitant amounts at the pump. It’s been a rollercoaster ride ever since, with gas prices swinging up and down like a toddler on a sugar high. Yet even with recent decreases, prices today still hover above levels seen during Donald Trump’s presidency, raising eyebrows about whether the economic savagery has truly abated.
USA average gas price now the lowest since May 2021 on @gasbuddy pic.twitter.com/FVvjfwtnXO
— Mike Zaccardi, CFA, CMT 🍖 (@MikeZaccardi) November 18, 2024
In a stark example of energy disparities, Hawaii leads the pack with outrageous gas prices standing at an eye-watering $4.572 per gallon. Meanwhile, Oklahoma residents are probably laughing all the way to the pump, with gas priced at a blissful $2.568 per gallon. So much for a national price average—some states seem to have completely skipped the memo that the prices are supposed to go down.
Virginia and Maryland are experiencing a bit of a tug-of-war. Virginia saw a slight dip, sinking to $3.005, while over in Maryland, prices took the high road, jumping to $3.204. Maryland was on a downward trend but decided it would rather join the upward surge, because who doesn’t love a little drama at the gas station? With fluctuations like these, residents are keeping a close eye on their wallets, reminding everyone there’s nothing like watching gas prices rise to ruin a family road trip.
Just a stone’s throw away, Delaware has joined the fray, with prices also sneaking above the $3 mark to $3.119. This comes after a brief lull in price increases. And lest we forget the nation’s capital, Washington, D.C. is still floating between $3.25 and $3.30, showing a little stubbornness amid all this volatility. While some states are on the upswing, it seems D.C. is determined to remain a steady presence in a sea of unpredictable prices. It’s enough to make anyone ponder how this administration manages to huff and puff over the economy while still struggling to release the power of the pump.
