Trump Effect: Oil And Gas Prices Expected To Stay Low Through 2026
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Donald Trump’s policies are working.
Oil and gas prices are expected to remain low through 2026.
Oil and gasoline prices are expected to decline next year, according to a recent forecast from the Energy Information Administration (EIA).
The EIA published its Short-Term Energy Outlook in November, which projected that the price of Brent crude oil will decline from $69 a barrel in 2025 to $55 a barrel next year. That would be well below the $81 per barrel that prevailed in 2024.
Gas prices are also projected to continue their decline into next year. Retail gas prices averaged $3.30 a gallon in 2024 and are at $3.10 a gallon this year, but are projected to decline further to $3 a gallon in 2026, according to the EIA’s report.
U.S. production of crude oil picked up this year and is expected to remain at the level in 2026, with the EIA finding the U.S. produced 13.2 million barrels per day in 2024. The agency projected crude oil production will be 13.6 million barrels per day in 2025 – the same as in 2026.
Gas prices continue to fall because of the policies of the Trump administration.
The price of regular gasoline sits at $2.81 a gallon compared to $3.01 last year.
Advisor Perspectives reported:
Gas prices continued to fall this week, remaining at their lowest level since early 2021. As of December 29th, the price of regular and premium gas were each down 3 cents from the previous week. According to GasBuddy.com, Hawaii has the highest average price for regular at $4.50 and Oklahoma has the cheapest at $2.18.
Currently, the national average price for a gallon of regular gasoline stands at $2.81 with premium gasoline averaging $3.76 per gallon. One year ago, regular gas was priced at $3.01 per gallon, while premium gas was at $3.91 per gallon.
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