Forecasts suggest significant drops in gas prices may be on the horizon, potentially bringing economic relief to families across the nation.
**Gas Price Projections Signal Relief Under Trump Administration**
**Gas Price Projections Signal Relief Under Trump Administration**
Americans are optimistic as energy policies shift toward increased domestic oil production under President-elect Donald Trump.
Under the forthcoming Trump administration, Americans may experience a welcome drop in gas prices as new energy policies are set to prioritize domestic production. According to a report from CNN citing forecasts from GasBuddy, the national average for regular gasoline is projected to fall below $3.22 by 2025, with estimates showing it could dip as low as $2.81 next December. If accurate, these prices would mark the lowest annual averages recorded since 2021, when President Joe Biden took office.
During his campaign, President-elect Donald Trump emphasized reducing energy costs as a critical aspect of his platform, famously advocating for increased oil production with the slogan “drill, baby, drill.” At a recent rally in Asheville, North Carolina, he expressed a dedication to curbing Biden administration energy policies, asserting, “Our priority will be to dismantle the Biden-Harris war on American energy.”
GasBuddy's head of petroleum analysis, Patrick De Haan, pointed out that 2025 could usher in "slow-but-steady improvement at the pump" should the new energy policies come to fruition. Under Biden’s presidency, gas prices surged beyond $5 per gallon in 2022, largely attributed to inflation and stringent energy regulations. This spike has become a focal point for economic trouble, affecting many American households.
Linking his election triumph to these economic issues, Trump told NBC’s Kristen Welker, “I won on groceries. I won an election based on that. … We plan to significantly reduce those prices." The administration's commitment to enhancing domestic energy production aims to alleviate inflationary pressures while restoring public confidence – a necessary endeavor, considering a recent Gallup poll indicated only 19% of Americans feel satisfied with the current state of the nation.
As Trump’s administration gears up to take office, there exists a palpable sense of hope among Americans for economic relief, with lower gas prices poised to play a significant role in measuring the new administration’s success.
During his campaign, President-elect Donald Trump emphasized reducing energy costs as a critical aspect of his platform, famously advocating for increased oil production with the slogan “drill, baby, drill.” At a recent rally in Asheville, North Carolina, he expressed a dedication to curbing Biden administration energy policies, asserting, “Our priority will be to dismantle the Biden-Harris war on American energy.”
GasBuddy's head of petroleum analysis, Patrick De Haan, pointed out that 2025 could usher in "slow-but-steady improvement at the pump" should the new energy policies come to fruition. Under Biden’s presidency, gas prices surged beyond $5 per gallon in 2022, largely attributed to inflation and stringent energy regulations. This spike has become a focal point for economic trouble, affecting many American households.
Linking his election triumph to these economic issues, Trump told NBC’s Kristen Welker, “I won on groceries. I won an election based on that. … We plan to significantly reduce those prices." The administration's commitment to enhancing domestic energy production aims to alleviate inflationary pressures while restoring public confidence – a necessary endeavor, considering a recent Gallup poll indicated only 19% of Americans feel satisfied with the current state of the nation.
As Trump’s administration gears up to take office, there exists a palpable sense of hope among Americans for economic relief, with lower gas prices poised to play a significant role in measuring the new administration’s success.