Gas Stations NAICS 457120

Apr 26, 2025 - Cheaper Summer Gas

• The US Energy Information Administration is forecasting the inflated-adjusted average regular gasoline price this summer to be the lowest since 2020. The summer 2025 average price of about $3.10 per gallon is based on the average of the 2Q25 and 3Q25 US regular gasoline price, when increased travel during the warmer months of the year puts upward pressure on gas prices. Looking ahead to 2026, EIA is forecasting a US average summer retail price of regular gas near $3.20 per gallon. Compared with recent years, lower forecasted US gasoline prices in 2025 and 2026 are mainly a result of lower crude oil prices. Although the agency expects crude oil prices to continue to fall in 2026, creating a downward effect on gasoline prices, that effect is offset by refinery closures and lower gasoline inventories, which cause refining margins for gasoline to rise.
• President Trump has moved to pull the plug on the National Electric Vehicle Infrastructure program (NEVI), his predecessor’s initiative to build a nationwide network of EV charging stations, Politico reports. In February, Trump instructed states not to spend federal funds previously allocated to them under the program. In a letter to state transportation directors, the Federal Highway Administration said that it was scrapping guidance issued in 2023 implementing the NEVI program. However, the letter says states will be able to receive reimbursements for “existing obligations” to design and build stations "in order to not disrupt current financial commitments.” Whether Trump can choose not to spend funds allocated by congress is likely to face legal challenges. Still, the administration’s move to block future EV charging station construction and, more broadly, Trump’s pro-fossil-fuel policies, brighten the outlook for suppliers of traditional motor fuels.

• The Energy Information Administration (EIA) is predicting lower gasoline and diesel prices in 2025 after the estimated cost of crude oil fell following the OPEC+ decision in December to delay production cuts until the end of 2026. Crude oil prices should hover around $74 per barrel in 2025, down from the EIA's estimated $76 per barrel earlier this year as refinery capacity decreased by about 3% than at the start of 2024, according EIA economist Jeffrey Barron who said "We expect retail and diesel retail prices are slightly down compared to 2024 annual average levels.” Nationwide, peer gallon gasoline and diesel prices will average $3.20 and $3.60, respectively, per the EIA. The agency's forecast does not take into consideration political factors, such as President-elect Donald Trump’s threats to raise tariffs on Canada and Mexico, which could inflate energy costs, including the price of gasoline, according to Politico.
• The average price for regular motor gasoline was $3.10 per gallon in March; down 9.6% compared to a year ago and 0.8% lower than in February, according to the Bureau of Transportation Statistics (BTS). The price of Diesel No. 2, the most common type of diesel fuel, was $3.59 in March, down 10.9% versus March 2024, and 2.4% lower than in February, per BTS data. Motor fuel prices are falling on lower crude oil prices and economic uncertainty. In April, US oil prices sank to their lowest level since 2021 on concerns that President Trump’s trade war will hurt economic growth. Employment by gas stations has also been falling, down 2.8% in January year over year, according to the Labor Department.