The average price for a gallon of regular gasoline is expected to dip below $3 for the first time since 2020, according to a forecast for the new year from GasBuddy.
The app company, which helps users find the cheapest gas in their area, told CNN it believes the national average will be $2.97 for a regular gallon of gas during 2026.
GasBuddy also said it predicts gas prices will continue their downward trend.
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"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, to CNN.
Russia's invasion of Ukraine catapulted oil prices in 2022, spiking gasoline prices above $5 a gallon for the first time ever.
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GasBuddy compiled its 2026 forecast prior to the sudden U.S. strike on Venezuela and capture of leader Nicolás Maduro.
However, it said the situation in Venezuela does not change its upbeat outlook for prices because it will take considerable time to rebuild the nation's decaying energy infrastructure.
