Gas Prices Hit Lowest March Level Since the Pandemic

(Undated) — The national average for a gallon of regular unleaded hasn’t been this low in March since 2021, when the pandemic significantly reduced demand and kept prices suppressed. According to GasBuddy Head of Petroleum Analysis, Patrick De Haan, this time around caution is playing a role in keeping prices lower. He says concerns about the direction of the economy could have a major influence on fuel prices in the months ahead, especially with the high level of uncertainty surrounding tariffs. Additionally, OPEC+ announced last week that it would gradually begin restoring oil production after nearly two years of cuts, adding further downward pressure on oil prices. De Haan says as a result, the typical seasonal rise in gas prices has yet to materialize, and if and when it does, it may be considerably smaller than expected. The current national average is hovering around $3.06 a gallon.