GasBuddy announced, in a blog posted on its website on Tuesday, that the United States’ cheapest stations dropped the gasoline price to $1.99 per gallon ahead of Thanksgiving for the first time in four years.
“GasBuddy … today reported the first sub-$2 per gallon gas prices available without discounts or as part of a temporary promotion, making them the lowest prices seen in the U.S. since 2021,” GasBuddy said in the blog.
The company noted in the blog that four stations located in Midwest City, Oklahoma, stood at $1.99 per gallon for regular unleaded gasoline early Monday morning on November 24.
“It’s pretty compelling to see gas prices this low, falling ahead of Thanksgiving, and it signals what more Americans could experience in the coming months,” Patrick De Haan, head of petroleum analysis at GasBuddy, said in the blog.
“Lower seasonal demand, falling oil prices, and rising OPEC output are all pushing prices down. While a few stations have recently dipped below $2 through temporary offers and promotions, this marks the first time we’ve seen a regular sub-$2 price,” he added.
“Prices at this level may fluctuate, but more locations in low-cost states like Texas, Mississippi, and others across the Gulf region are likely to follow before the typical spring rebound we’ll likely see in 2026,” De Haan continued.
In the blog, GasBuddy stated that falling oil prices and healthy refinery output have combined to ease pressure on consumers at the pump over the past several months, highlighting that West Texas Intermediate (WTI) crude oil recently traded near $58 per barrel.
Fewer Americans Plan to Hit the Road
In a separate blog posted on GasBuddy’s website on November 18, GasBuddy warned that fewer Americans plan to hit the road for Thanksgiving this year, “even as gas prices remain near the lowest holiday level since the pandemic”.
The company revealed in that blog that GasBuddy’s 2025 Thanksgiving Travel Survey showed that 60 percent of Americans plan to take a road trip, which it pointed out was “a sharp decrease from 72 percent last year”.
“The decline comes despite stable fuel prices and points to a more home-centered holiday season,” GasBuddy noted in the blog.
GasBuddy projected a national average price of gas of $3.02 per gallon on Thanksgiving Day in that blog, which the company pointed out would match last year and mark “one of the cheapest holiday averages since 2021”.
In this blog, De Haan said, “gas prices are cooperating this Thanksgiving, but that’s not translating into more travelers”.
“Drivers have grown more resilient to price swings, yet I worry that concerns about a cooling economy may be weighing on Americans’ willingness to travel. Even with affordable gas, economic uncertainty can make people stay closer to home,” he added.
Price Trend
GasBuddy’s live ticking average for regular gasoline in the U.S. was $3.041 per gallon as of 7am EST on November 26. The figure was down 1.7 cents from yesterday’s average, down 7.1 cents from last week’s average, up 0.2 cents from last month’s average, and down 0.2 cents down from last year’s average, GasBuddy’s website highlighted.
The U.S. Energy Information Administration’s (EIA) latest gasoline fuel update, which was released on November 25, showed a mixed bag for the U.S. regular gasoline price.
According to that update, the U.S. regular gasoline price averaged $3.056 per gallon on November 10, $3.062 per gallon on November 17, and $3.061 per gallon on November 24. The November 24 price was down $0.001 from the week ago price and up $0.017 from the year ago price, the update highlighted.
Of the five Petroleum Administration for Defense District (PADD) regions highlighted in the EIA’s latest fuel update, the West Coast was shown to have the highest U.S. regular gasoline price as of November 24, at $4.070 per gallon. The Gulf Coast was shown in the update to have the lowest U.S. regular gasoline price as of November 24, at $2.643 per gallon.
A glossary section of the EIA site notes that the 50 U.S. states and the District of Columbia are divided into five districts, with PADD 1 further split into three subdistricts. PADDs 6 and 7 encompass U.S. territories, the site adds.
According to the AAA Fuel Prices website, the average price of regular gasoline in the U.S. is $3.042 per gallon, as of November 26. Yesterday’s average was $3.055 per gallon, the week ago average was $3.094 per gallon, the month ago average was $3.053 per gallon, and the year ago average was $3.067 per gallon, the site showed.
The highest recorded average price of regular gasoline in the U.S. was seen on June 14, 2022, at $5.016 per gallon, the AAA Fuel Prices website outlined.
This year’s U.S. Thanksgiving holiday takes place on November 27.
To contact the author, email andreas.exarheas@rigzone.com
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