Gas Prices Continue to Fall Nationwide, Poised to Drop Below $3
U.S. gas prices have fallen for the second week in a row, with the national average now at $3.13—down roughly 36–37 cents from a year ago.
According to GasBuddy and EIA data, prices declined across all regions, with the Gulf Coast lowest at $2.66 and the West Coast highest at $4.08.
Analysts expect continued drops due to increased OPEC production and easing geopolitical tensions, with the national average possibly falling below $3 later this summer.
Mississippi leads the nation with the lowest average price at $2.71, followed closely by Oklahoma and Louisiana.
Canada Faces EV Uncertainty as U.S. Tax Credit Ends and Automakers Pull Back
The U.S. government's decision to end its $7,500 electric vehicle (EV) tax credit is expected to have ripple effects in Canada, as automakers scale back or delay EV production across North America. With the U.S. market no longer offering strong government incentives, overseas manufacturers are questioning the viability of certifying EVs solely for the much smaller Canadian market. The high cost of certification for North American standards makes it unlikely that automakers will prioritize Canada on its own, especially as EV support policies in both countries weaken.
Trump’s New Japan Trade Deal Signals Uncertainty Ahead for U.S. Auto Industry
President Donald Trump announced a new trade framework with Japan that includes a 15% tariff on Japanese imports—down from the previously threatened 25%—and claims it will lead to significant U.S. job creation and $550 billion in Japanese investment.