Gasoline prices in America vary drastically not only from year to year, but sometimes even every month.

AAA recently reported that at $3.137, gas by the gallon is 9 cents lower than it was November, 2023, and the lowest it’s been all year.

According to AAA, there are essentially three reasons why gas prices are plummeting and why gas companies can’t get enough for their product: The weather, the time of year, and an increase in gas production.

AAA also noted that “Historically, crude oil tends to drop nearly 30% from late September into early winter with gasoline prices trailing the play.”

Weather and time of year are playing their part in low gas prices, but the absolute most important reason why costs are so low is simply that there has been a significant increase in gas production, alongside a lowering demand.

OPEC, or The Organization of the Petroleum Exporting, works to ensure the co-operation of oil-producing countries around the world to maximize crude oil profits.

One of the major reasons why gas is so affordable right now is because supply is higher than demand, and OPEC plans to rectify that issue immediately.

Now, even though the national average is the lowest it’s been all year, the price of a gallon of gas still varies significantly by state.

The states with the lowest gas taxes are typically the states with the most affordable gas. And as usual, Texas is leading the pack with the average gas price of only $2.60 per gallon.

And it should come as no surprise that the most expensive gas in the country is being sold in California at $4.70 a gallon, nearly double what Texans pay for the same product.

While some states consistently sit in the list of either the most expensive or the most affordable gas prices, these states saw huge decreases in a very short period of time.

AAA Spokesperson Andrew Gross explained, “More than half of all U.S. fuel locations have gasoline below $3 per gallon. By the end of the year, the national average may dip that low as well.”