A panel on ABC News’ “Good Morning America” celebrated the lowest December gas prices in five years on Tuesday, citing GasBuddy data.
GasBuddy reported on Monday that America’s average gas prices decreased for five weeks in a row to $2.75 per gallon. The panel framed the drop as a positive development for Americans traveling on the road during the holidays.
WATCH:
“Hey, how about some good news for those of us hitting the road for the holidays?” guest host Malika Andrews asked. “Gas prices, they’re dropping nationwide, and this is for the fifth consecutive week.”
ABC News correspondent Elizabeth Shulze broke down 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,” the correspondent said. “So it’s now $2.75. That’s down 23 cents in one month. In 40 states, average gas prices are now below that $3 mark.”
“Now, we do tend to see lower prices this time of year. That’s 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 continued. “GasBuddy says we could start to see prices tick up in about six weeks, but bottom line for now, cheapest December for gas prices in five years.”
Gas prices rose to record highs in June 2022 under former President Joe Biden, with the national average per-gallon price approaching $5.
Trump signed an executive order on the first day of his second term to “unleash America’s affordable and reliable energy and natural resources.” He declared “a national energy emergency” the same day.
Trump campaigned against Biden’s energy policies that he dubbed the “green new scam.” While the Biden administration clamped down on offshore oil and gas leasing, the Trump administration has endeavored to reopen federal lands and waters that were locked up.
CNN business reporter Matt Egan also noted on Aug. 29 that analysts attributed the decline in gas prices to increased foreign oil production, suggesting Trump’s pressure on OPEC played a role.
“OPEC refused to pump more during the Biden years,” he said. “They are pumping aggressively now, and that is something that the president has pushed them to do. That’s the big difference right now.”
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