Gas prices: Increase at the pumps after setting record low for 2024

Published November 26, 2024 7:50am ET



The national average price for a gallon of regular gas increased on Tuesday, rising to $3.067 compared to Monday’s price of $3.053. Tuesday’s price is more expensive than gas prices from a week ago, when the national average cost for regular gas was $3.063 per gallon. Despite the increase, gas prices are much less expensive than earlier this year.

Gas prices have been gradually decreasing since the summer. Monday’s price is the lowest national average price for gas since May 2021, when the average cost for regular gas was $2.985 per gallon, according to the Energy Information Administration. Since then, high gas prices have been a financial burden to drivers at over $3 per gallon and, for a brief period, over $4 per gallon.

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