A Five-Year Low at the Pump

Transport Secretary Sean Duffy took to social media platform X on Tuesday to celebrate what he's calling a major win for the Donald Trump administration: the lowest gas prices in five years.

"Donald Trump 47 is competing with Donald Trump 45 for the lowest gas prices," Duffy declared, emphasizing that prices haven't been this low in half a decade. His claim? That Trump's policies are restoring choice and affordability to American consumers.

In a video shared with his post, Duffy explained that automakers would no longer face "billions of dollars on taxes or carbon credits" to meet what he called "unattainable" emissions standards.

The numbers back him up. Department of Energy data shows gas prices averaging about $2.80 per gallon nationally. The White House pointed to American Automobile Association figures showing $2.819 per gallon on January 8, with Tuesday's national average sitting at $2.822 per gallon.

Looking ahead, the U.S. Energy Information Administration said Tuesday it expects even lower gas prices in 2026 and 2027, driven by declining crude oil costs. Meanwhile, TotalEnergies SE (TTE) reported expectations for fourth-quarter oil and gas production to climb 5% year-over-year.

California's Governor Wants Credit Too

It's not just the Trump administration claiming victory on gas prices. California Governor Gavin Newsom is touting lower prices in his state as proof his policies are working. His administration credits two special pieces of legislation targeting price gouging and fuel supplies with delivering savings to consumers.

Speaking at the World Economic Forum in Davos, Switzerland, Newsom also celebrated California's electric vehicle push. The state has recorded 2.5 million zero-emission vehicle sales, crushing its target of 1.5 million EVs by 2025.