Gas prices, mortgage rates hit new lows; ‘best yet to come,’ says White House 

The average cost of gas has dropped to $2.79 per gallon nationwide – the lowest price in nearly five years – with 43 states offering gas for less than $3 per gallon, the White House announced Monday. 

“Start your engines and fill up, America’s energy dominance era is here,” the White House said in a post on X. 

Gas prices have steadily declined for seven consecutive weeks and are less than $2.75 per gallon in 30 states and less than $2.50 per gallon in 17 states, according to a White House statement. Some gas stations in at least 19 states offer gas for less than $2 per gallon, the statement reports.  

This drop in price is “putting real money back in Americans’ pockets,” the statement reads. Every American household will save hundreds of dollars in 2026, as gas spending reaches its lowest “share of disposable income” in 20 years, according to the statement, which estimated American motorists will save $11 billion collectively. 

“President Trump since January 20 of last year has been laser focused on making America affordable again,” White House Press Secretary Karoline Leavitt told Fox News Monday.  

Additionally, mortgage rates have fallen to under 6% for the first time in three years, with a one percentage point drop in 2025, NBC reports.

“These were two of the biggest pain points for the American people, as you all know, under the previous administration: gas prices, mortgage rates, interest rates – all things that this administration is committed to seeing fall,” Leavitt said.  

Americans can expect to see a continued drop in prices, she said. 

“With a little bit of patience, the American people are going to see that the best is yet to come,” Leavitt told Fox. “President Trump has a proven economic formula that works. He delivered on it in his first term. He’s delivering on it now.”