Will Gas Prices Ever Go Down?

A few catalysts could theoretically relieve current pressures at the fuel pump, but don’t expect gas prices to go meaningfully lower soon.

A man pouring a bucket of cash into a gas tank
(Image credit: Getty Images)

As it becomes increasingly painful to fill up your gas tank, you might well be wondering: Will gas prices go down at some point?

Energy prices feel like they've been on a never-ending ride higher of late. A year ago, the national average price of regular unleaded was $3.07 per gallon, according to travel website AAA. A month ago, it was $4.59. Today, it's $4.96.

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Jim Patterson
Managing Editor, The Kiplinger Letter

Jim joined Kiplinger in December 2010, covering energy and commodities markets, autos, environment and sports business for The Kiplinger Letter. He is now the managing editor of The Kiplinger Letter and The Kiplinger Tax Letter. He also frequently appears on radio and podcasts to discuss the outlook for gasoline prices and new car technologies. Prior to joining Kiplinger, he covered federal grant funding and congressional appropriations for Thompson Publishing Group, writing for a range of print and online publications. He holds a BA in history from the University of Rochester.