Gas Prices Fall to Lowest Levels Since 2021 Ahead of Holiday Travel
U.S. gas prices have dropped to their lowest point since early post-pandemic recovery, with the national average falling to $2.95 per gallon, down 8.5 cents from last week and nearly 7 cents lower than a year ago. The decline is driven by the completion of refinery maintenance and increased OPEC oil production, which has put downward pressure on crude prices. Analysts expect this trend to continue into the holiday season, with some stations already offering gas below $2 per gallon.
Every region in the country saw prices fall, with the Gulf Coast ($2.60) and Rocky Mountain ($2.55) regions posting the lowest averages, while the West Coast ($4.03) remains the most expensive. The cheapest states for gas are led by Oklahoma ($2.40), followed by Texas, Arkansas, Mississippi, and Louisiana. Overall, the widespread declines offer timely financial relief for drivers heading into the holidays.
Rental Demand Drives 2025 Fleet Sales Past Two Million as Year-End Momentum Builds
Fleet sales in 2025 are on track to finish ahead of last year, surpassing the two-million mark in November and reaching 2,022,875 vehicles sold year-to-date, a 3.9% increase over the same period in 2024. Much of this growth has been driven by rental car companies, which significantly boosted their purchasing in response to higher customer demand compared to last year. In November alone, the three major fleet sectors—commercial, rental, and government—purchased 165,735 vehicles, an 18.4% increase from November 2024.
November Market Declines Highlight Cooling Canadian Used Wholesale and Economic Mixed Signals
The Canadian used wholesale market saw steady month-long declines across nearly all segments in November, with weekly drops generally ranging from –0.32% to –0.44%. Both car and truck/SUV segments experienced consistent depreciation, led by sharp weakness in Full-Size Cars and several high-volume truck categories such as Small and Full-Size Pickups, Minivans, and Mid-Size Crossover/SUVs. The only segment to post any gain was the Full-Size Luxury Crossover/SUV, which saw a slight +0.14% increase. Retail conditions mirrored this softening: average used-vehicle listing prices edged down from $37,150 to $36,930, while dealer inventory levels remained stable at roughly 212,000–217,000 units. Auction activity fluctuated widely due to economic uncertainty, firm seller floors, and continued priority access for upstream channels.