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.
