Gasoline Prices Slip 1% in November, Holiday Drivers See Relief at the Pump

Gasoline prices in the United States registered a modest decline during November 2025, continuing the downward trajectory seen throughout much of the year. The easing trend was driven by weaker seasonal demand following the Thanksgiving holiday, cheaper winter fuel blends, and sustained softness in crude oil benchmarks. Together, these elements created a favorable environment for consumers, with affordability pressures at the pump easing just as millions of Americans prepared for holiday travel.

Gasoline prices fell primarily due to decreases in crude oil benchmark prices. Benchmark prices dropped during the month and approached multi-month lows. Additionally, the completion of fall maintenance by refineries helped create stability in crude oil supply. The use of winter fuel blends decreased production costs and contributed to lower gasoline price levels. Additionally, due to seasonal demand patterns from Thanksgiving and other holidays, gasoline volumes peaked during summer but were still well below levels earlier in the year. During November, gasoline inventories built up, and increasing gasoline inventories contributed to downward price pressure on gasoline prices.

Midwestern and Gulf Coast States were the main contributors to the decline in fuel prices. Most Midwestern and Gulf Coast States had fuel prices that were well below the national average. Several regions had the cheapest fuel prices experienced in years, with some stations selling gasoline at lower price. According to analysts, it is highly likely that many Gulf Coast and Midwestern States will follow this trend before the normal seasonal increase in price begins in the spring of 2026. Certain states experienced year-over-year savings, and some others experienced small increases, demonstrating regional differences in the pricing of fuel.

Forward forecasts indicate that the price of gasoline will continue to have downward pressure through the end of 2025. The supply of crude oil is likely to remain plentiful because of excess supply globally, increased production from OPEC, and ongoing growth from non-OECD countries.

Additionally, the forecasts show a decline in crude prices, suggesting a continuation of low-cost gasoline for consumers, particularly during winter months when gasoline demand typically is lower. However, because of regional price volatility, due to localized constraints on the delivery of supplies or inoperable refineries, the price could rise temporarily for consumers in certain locations.

Overall, the 1% decline in gasoline prices in November represents another example of an overall downward trend in the cost of fuel for consumers, providing households with limited relief during a time when they are facing a growing affordability crisis.