OAN Staff Sani Unutoa and Sophia Flores
12:57 PM – Monday, January 5, 2026
2026 is expected to be the cheapest year for gas in the United States since the COVID-19 pandemic.
GasBuddy forecasters project that the national average this year is expected to be just $2.97 nationally.
If the forecast is right, this would be the fourth year in a row of falling gas prices and the first year with an annual average below $3 a gallon since 2020.
“Now things are looking pretty good. We’re finally out of the woods with the market rebalancing after COVID,” said Patrick De Haan, GasBuddy’s head of petroleum analysis.
Forecasters attribute the falling gas prices to an increase in global crude oil supply.
This is also a huge difference from when gas hit $5 a gallon in 2022 under former President Joe Biden. At that time, Russia’s invasion of Ukraine drove gas prices to over $5 for the first time ever. Additionally, the U.S. inflation rate surpassed 9%.
The forecast came out before the U.S. strike on Venezuela and capture of Nicolas Maduro.
However, GasBuddy says the incident will not affect its predictions.
“In the short term, we see little disruption or shift as a result of the events over the last few days,” De Hann stated.
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