Colorado Politics

Gas prices: Fuel costs continue to fall, hitting lowest June price point since 2021

The national average price for regular gas decreased on Monday to $3.185 per gallon, according to AAA, the least expensive average cost for regular gas in the month of June in the last four years.

The latest drop in gas prices comes after several consecutive days of gradual decreases in fuel costs. Monday’s national average price point is less expensive than a week ago, when the average price of regular gas was $3.22 per gallon. It is also significantly cheaper than in 2024, when the national average price for regular gas was nearly 30 cents per gallon higher at $3.491.

Furthermore, Monday’s price point for gas means that June will finish with the lowest national average price in June for regular gas since 2021, when it was $3.157 per gallon, according to the U.S. Energy Information Administration. It was also a stark contrast to costs in June 2022, when the national average price for regular gas was $5.032 per gallon, the most expensive in the country’s history.

Additionally, the fuel costs on Monday were less expensive than they were in May, when a gallon of gas was $3.278, according to the U.S. Energy Information Administration.

Gas prices in June fluctuated quite a bit. During the first third of June, fuel costs dropped to as low as $3.124 per gallon. Then, costs quickly increased, largely attributed to the traditional increase in gas prices during the summer and tensions between Israel and Iran in the Middle East. They rose to over $3.22 per gallon before the recent decreases at the pumps during the last week of June.

Many states nationwide experienced a drop in statewide average gas prices to less than $3 per gallon. On Friday, 17 states had average prices under $3. As of Monday, that total has risen to 21 states, according to AAA.

In the United States, residence is the main factor in determining average fuel costs. Different areas of the country vary in average gas prices, sometimes substantially. The states with the lowest gas prices are located along the Gulf Coast, and the states with the most expensive gas prices are on the West Coast.

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​​Mississippi is the state with the lowest gas prices in the country on Monday, with an average cost of $2.715 per gallon. Oklahoma is next at $2.733. Texas has the third-lowest average fuel costs in the country, with an average of $2.766. This is followed by Tennessee at $2.781 per gallon and Louisiana at $2.793.

California has the highest average gas price in the nation, at $4.594 per gallon. This is more than 14 cents higher than Hawaii, the state with the next highest gas price, at $4.473. Washington is the state with the third-highest average gas price, at $4.433, followed by Oregon at $4.051 and then Nevada at $3.795.

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