Staff Reports
Gas prices across the United States finally decided to take a breather on Friday, dropping to a national average of $3.099 per gallon for regular. After a week of watching those prices climb like a toddler on a sugar high, this decrease of two whole cents must feel like winning the lottery—if the lottery paid in gas money. For those keeping score, this is down from $3.122 the previous week and shows a bit more consistency than a liberal in front of a college campus audience.
In a broader look at the gas price crisis, it seems they’ve been trending down recently—much to the chagrin of President Joe Biden, who must be shaking his head at the irony. Just a month prior, the average was at a wincing $3.181, and a year ago, when most Americans were feeling the pinch, it hit a staggering $3.405. For the historically challenged, those prices were under Trump’s administration, where gas was cheaper than Biden’s morning coffee before the sun came up. While it’s great to see these slight decreases, they still can’t escape the fact that today’s prices remain higher than they were during the final days of the Trump administration.
Bonds Post-Election
The curve is now trading at lower yields than Friday.
Money is being put to work as vol falls post-election pic.twitter.com/HewZoeoP7W
— Skyler Weinand (@sweinand) November 7, 2024
Drilling down on specific regions shows an even more mixed bag. In Washington, D.C., the average price held steady (if “steady” can be equated to “still too high”), ticking up slightly to $3.274. Not exactly a cause for celebration; a week ago, drivers were forking over $3.269. A month ago, it could be argued that residents had a hard time finding a gas station that didn’t make them faint at the pump with prices averaging $3.319. So, in short, D.C. continues to provide a fine example of what happens when the government is in charge of anything.
Maryland joined the ranks of those seeing a minor dip, with Friday’s price falling to $3.047 from the previous day’s $3.054. The trajectory seems to be a reluctant downward spiral, with a week ago showing prices at $3.069. Let’s not get too excited, though—last month in Maryland had residents shelling out $3.239, making this a marginal victory at best. The people of Maryland must be wondering if they will need to take a second job just to pay for gas or if they can hold onto the dream of having enough change left over for a cup of coffee.
Delaware earned a gold star by following the trend, as gas prices slid down to a pleasant $2.952, down from $2.96 the day before. Compared to last week’s $2.971 and a full month ago when gas was hitting the much-feared $3.211 mark, this could be reported as good news—especially if one enjoys the thrill of saving a few cents. Virginia also participated in this collective sigh of relief, marking its gas prices below the $3 mark at $2.996, though that’s still not low enough to qualify for a celebratory newsletter. Just a week prior, prices were at $3.024, and a month back, it was $3.066, resembling a scene where even the gas stations were shaking their heads at inflation like everyone else.
So, while Americans may be pleased with the slight downward trend in gas prices, the bigger picture remains just out of reach. The sinister hand of government regulation continues to play a role in the costs, leaving everyday citizens wondering when they can fill up without needing to sacrifice a kidney.
