This holiday season, US drivers are enjoying a rare treat: lower gas prices. It's a welcome relief for those hitting the road for Christmas, especially as the cost of living remains high and inflation continues to bite. According to AAA, December has been the cheapest month for gas prices this year, with the national average for unleaded gasoline staying below $3 per gallon since December 2nd. The average has since crept up to around $2.86 per gallon, but it's still a far cry from the highs seen earlier in the year. Some states, like Hawaii, California, and Washington, are still seeing prices above $4 per gallon, while others, such as Oklahoma, Arkansas, and Iowa, are benefiting from lower averages of around $2.30 per gallon. The overall trend, however, is positive, with prices down more than 18 cents compared to last year and 21 cents from the previous month. This month's prices are the cheapest December for gas since 2020, when the COVID-19 pandemic caused widespread economic disruption. The travel organization AAA attributes this to strong supply and relatively low crude oil prices, with West Texas Intermediate remaining below $60 per barrel for most of December. This is a welcome relief for consumers, who have been feeling the pinch of higher prices in other areas of their budgets. Despite some signs of consumer price cooling in November, year-over-year inflation remains above the Federal Reserve's target, and many Americans continue to express anger and frustration about the high cost of living and an uncertain job market.
