Oil Prices were much lower in late 2025 than where prices began that year. Patrick DeHaan with Gasbuddy.com says there were two key international issues that pushed oil prices lower in 2025: the ongoing war between Ukraine and Russia, and OPEC’s progressive increase in oil production. But that changes in 2026.
“OPEC is agreeing to pause the increases in production for the first three months, which certainly, from that perspective, makes a lot of sense as oil demand globally tends to be weaker in the Northern Hemisphere winter. So, for now, oil prices are still relatively low. That opened the door for falling gasoline and diesel prices, as well as jet fuel prices nearly coast to coast, with Americans and now nearly a dozen states able to fill up at at least the cheapest station for below the $2-a-gallon mark.”
When it comes to the top news stories for 2025, DeHaan said the lack of turbulence is really what sticks out to him.
“And it’s been a remarkably balanced year. Gasoline prices, nationally, in the U.S. are remaining between a range of $2.75 to as much as $3.20, a relatively tight range, and a very quiet year. We didn’t see much of a seasonal increase in the spring, but now we’re starting to see a big seasonal decrease in the Fall. So, it’s been a pretty quiet year.”
DeHaan added that some have said these lower gasoline prices in the U.S. indicate a looming recession. However, he said he doesn’t see a recession in the cards, noting that gasoline demand is seasonally strong.