A recent segment on ABC News' "Good Morning America" highlighted the notable decline in December gas prices, marking the lowest levels in five years, as reported by GasBuddy.
According to the Daily Caller, GasBuddy revealed that the national average for gas prices has fallen for five consecutive weeks, reaching $2.75 per gallon. This decrease was portrayed by the panel as a boon for Americans planning holiday travel. "Hey, how about some good news for those of us hitting the road for the holidays?" guest host Malika Andrews inquired. "Gas prices, theyre dropping nationwide, and this is for the fifth consecutive week."
ABC News correspondent Elizabeth Shulze provided further insights into the data. "So this is really welcome news for the more than 100 million Americans hitting the roads during the holidays. GasBuddy says the national average price for a gallon of gas down for the fifth straight week," she explained.
The correspondent noted that the price had decreased by 23 cents over the past month, with 40 states now experiencing average prices below $3 per gallon.
Shulze elaborated on the seasonal trends affecting gas prices, stating, "Now, we do tend to see lower prices this time of year. Thats because generally demand does go down. People are parked during the holidays. School is out. Oil production is also up, which does help keep prices low." She added that while prices might rise in about six weeks, the current situation marks the cheapest December for gas prices in five years.
In contrast, gas prices had soared to unprecedented levels in June 2022 under President Joe Biden, with the national average nearing $5 per gallon. President Trump, on the first day of his second term, signed an executive order aimed at "unleashing Americas affordable and reliable energy and natural resources," declaring "a national energy emergency" simultaneously.
He criticized Biden's energy policies, labeling them the "green new scam," and sought to reverse restrictions on offshore oil and gas leasing imposed by the Biden administration.
CNN business reporter Matt Egan observed that increased foreign oil production contributed to the decline in gas prices, suggesting that Trump's influence on OPEC was a factor. "OPEC refused to pump more during the Biden years," Egan remarked. "They are pumping aggressively now, and that is something that the president has pushed them to do. Thats the big difference right now."
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