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.
Oil prices were little changed on Wednesday and are set to fall more than 15% over the course of 2025, as oversupply concerns grew in a year marked by wars, higher tariffs and OPEC+ output and sanctions on Russia, Iran and Venezuela.
Curious Minds Corner
Why do oil prices react so fast to geopolitical events?
Because oil is traded globally and even small disruptions or risks to supply can immediately affect futures markets and pricing expectations.