As inflation drives up the cost of most goods and services, gas is one of the few things that hasn’t gotten more expensive, and it might even get cheaper this fall.
The national average for a gallon of gas in the U.S. was $3.17 as of Monday, down about two cents from the week before, according to the U.S. Energy Information Administration.
“For many Americans, the fourth quarter … is going to hold a lot of promise for gas prices declining in many areas,” says Patrick De Haan, head of petroleum analysis at GasBuddy.
De Haan says gas prices, which typically decline in the latter half of the year, could fall to around $3 per gallon sometime in October, due to factors including more oil production from a group of nations known OPEC+, a switch to a cheaper winter blend of gasoline and Wednesday’s Federal Reserve interest rate cut.
While there are still factors that could drive gas prices higher, including ongoing uncertainty over tariffs and the potential supply disruptions from hurricanes, “as we get into October, especially November, gas prices will likely fall 10 to probably 30 cents a gallon nationally,” De Haan says.
“It’s looking fairly good for motorists in most areas,” he says.
Relief is coming to the West Coast and Northeast
Nationally, gas prices have risen slightly since late August, mainly due to significant price increases on the West Coast and in the Northeast.
States like Arizona, Washington, Oregon, California and Nevada have experienced supply issues stemming from unplanned maintenance, permanent refinery shutdowns and a significant pipeline outage in the Pacific Northwest, De Haan says. The Northeast has seen some price increases due to its reliance on imported gasoline.
Prices on the West Coast and in the Northeast are expected to drop “quite substantially” and should return to a more normal balance with the national average over the next six to eight weeks as supply issues are resolved, De Haan says.
“There will be probably more relief in the West Coast and the Northeastern U.S. over the next eight weeks than other regions,” De Haan says.
Want to be your own boss? Sign up for Smarter by CNBC Make It’s new online course, How To Start A Business: For First-Time Founders. Find step-by-step guidance for launching your first business, from testing your idea to growing your revenue. Sign up today with coupon code EARLYBIRD for an introductory discount of 30% off the regular course price of $127 (plus tax). Offer valid September 16 through September 30, 2025.
Plus, sign up for CNBC Make It’s newsletter to get tips and tricks for success at work, with money and in life, and request to join our exclusive community on LinkedIn to connect with experts and peers.
