The Energy Information Agency (EIA) is a semi-independent agency under the US Department of Energy.
The EIA has announced that car owners will see a sharp drop in gas prices in 2026.
In terms of shares of disposable income, the EIA says consumers spent about 2% less on the pump compared to last few years.
However, drivers may not have to wait until 2026 as gas prices in many regions fell 20 cents compared to last summer.
“The good news for consumers is that they generally see low prices at pumps and we hope that gas prices will continue to fall until next year,” said the representative manager of EIA Steve Nalley/.
In Florida, prices have fallen between $2.70 and $2.85 per gallon in some big cities. However, the EIA is predicting overall. The average retail price for regular grade gasoline is expected to fall from $3-$3.10 per gallon for the remainder of 2025, falling to an average of $2.90 per gallon in 2026.
Some of the reasons why cheap gases are produced in 2026.
Deregulation by the Trump White House.
Increased OPEC+ Supply: International Energy Agency (IEA) reports that OPEC+ members are expected to increase oil production.
Lower consumer spending: Lower prices will likely cost Americans less disposable income on gasoline.
A contributing factor is that crude oil prices, which account for more than half of what consumers pay at the pump, are expected to decline in the short term. According to EIA forecasts, crude oil prices fell from $68 per barrel in August to $59 per barrel, to an average of $59 per barrel in the fourth quarter of 2025.
