Did U.S. gas prices drop below $1.98 a gallon as President Trump claimed in a May 2, 2025 Truth Social post? No, that's not true: The national average for a gallon of regular unleaded gasoline was $3.18 on May 2, 2025, according to the AAA survey. The cheapest gas was in Mississippi, where the average price for regular unleaded was $2.66 a gallon, the AAA survey said. The national average was $0.49 lower than on the same date a year earlier when a gallon cost $3.67.
The claim originated in a post (archived here) shared by President Trump's Truth Social account on May 2, 2025. It read:
Gasoline just broke $1.98 a Gallon, lowest in years, groceries (and eggs!) down, energy down, mortgage rates down, employment strong, and much more good news, as Billions of Dollars pour in from Tariffs. Just like I said, and we're only in a TRANSITION STAGE, just getting started!!! Consumers have been waiting for years to see pricing come down. NO INFLATION, THE FED SHOULD LOWER ITS RATE!!! DJT
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(Source: Truth Social screenshot by Lead Stories on May 2, 2025)
The AAA analysis of the latest trend noted that gas prices rose only slightly in the previous week, although traditionally the increase is greater as warmer weather approaches. The price is kept lower because of "economic concerns" and greater oil production by the OPEC countries:
The national average for a gallon of regular saw few changes over the past week, going up slightly to $3.18. Even though this is the time of year when we typically see seasonal increases and rising demand, the price of crude oil has been plunging. A couple of factors are at play: economic concerns and the decision by OPEC+ (the group of oil-producing countries) to increase output and add more oil to the market, despite tepid demand. The lower the price of oil, the less drivers pay at the pump. The national average is almost 50 cents less than it was this time last year.
(Source: gasprices.AAA.com screenshot by Lead Stories on May 2, 2025)
Treasury Secretary Scott Bessent made the similarly false claim that gas prices were down to $1.93 in "parts of Florida" on May 1, 2025.
Bessent brags that gas is $1.93 somewhere in Florida and calls it an "automatic tax cut"
-- The Vivlia (@TVivlia) May 2, 2025
The economy's crumbling, but hey -- summer road trip, baby! pic.twitter.com/XDJsNg8qf4
The AAA survey for Florida showed the average price in the state was $3.156 and that no section had gas below $2.76:
(Source: gasprices.AAA.com screenshot by Lead Stories on May 2, 2025)
The cheapest gas in the U.S. is in southern states, the AAA survey revealed:
The nation's top 10 least expensive gasoline markets are Mississippi ($2.66), Louisiana ($2.73), Tennessee ($2.74), Alabama ($2.76), Texas ($2.76), Arkansas ($2.78), Oklahoma ($2.80), South Carolina ($2.82), Kansas ($2.85), and Missouri ($2.85).
