U.S. Gas Prices Edge Higher but Expected to Fall Below $3 This Fall
As of September 22, 2025, the national average gas price rose by 2.2 cents to $3.14 per gallon, though it is unchanged from a month ago and 1.8 cents lower than last year.
GasBuddy’s Patrick De Haan noted that prices may soon dip below $3 per gallon for the first time in years, as seasonal demand falls and winter gasoline brings downward pressure.
Some states, including Florida, Ohio, Michigan, and Maryland, saw double-digit price jumps due to routine cycling, but overall stabilization is expected.
Regionally, the Gulf Coast has the lowest prices, while the West Coast remains the most expensive. Oklahoma leads as the cheapest state for gasoline.
EV Market Hits Record Sales as Tax Credit Expiration Drives Urgency
The electric vehicle (EV) market saw record-breaking momentum in August 2025, with strong gains across both new and used segments as consumers rushed to purchase ahead of the Inflation Reduction Act’s tax credit expiration. New EV sales hit an all-time high of 146,332 units, up 14.1% from July and 17.7% year-over-year, pushing market share to 9.9%. Tesla led in volume with 55,500 units but lost market share to rising players like Honda, which surged nearly 48% month-over-month, and Audi, which grew 65% among luxury brands. Used EV sales also climbed to a record 40,960 units, up 22% from July and 59% from last year, with Tesla remaining dominant but losing share to Ford and Volkswagen.
Canada’s Auto Tariffs Reshape Vehicle Imports and Market Outlook
Canada has eased some counter-tariffs to reopen trade talks with the U.S., but tariffs on U.S.-built vehicles remain in place. Early in the year, Canadian importers stockpiled U.S. vehicles ahead of the tariffs, with March imports more than doubling January’s levels. However, after tariffs took effect on April 9, 2025, U.S. imports dropped sharply and have continued to decline, while imports from other countries—especially Mexico—rose significantly, with June values nearly doubling January’s.