Gasoline Prices Fall for First Time in a Month, Still Higher YoY

ByCharles Kennedy– Apr 14, 2025, 1:30 PM CDT

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“After oil’s sharp drop over the last couple of weeks — driven by concerns over the impact of U.S. tariffs and OPEC+ restoring production faster than expected — gasoline prices have posted a notable weekly decline, with nearly every state seeing prices fall,” said Patrick De Haan, head of petroleum analysis at GasBuddy. 

“While I do expect gas prices to continue trending lower, any abrupt change in the current tariff situation could eventually bring the decline to a halt. For now, the good news is that gas prices typically reach their yearly peak around April 10, so we may have already witnessed ‘peak pain’ at the pump for 2025. As refiners near the end of seasonal maintenance and supply begins to rise — and with the changeover to summer gasoline nearly complete — it’s increasingly likely that gas prices have already hit their high for the year,” De Haan continued. 

Global energy markets experienced a fleeting reprieve following U.S. President Donald Trump’s announcement of a 90-day suspension on proposed reciprocal tariffs for most countries, excluding China. This led to a modest rebound in oil prices. 

Despite this reprieve, the energy sector is under immense pressure over the trade war, with the Energy Information Administration (EIA) adjusting its projections downward, forecasting Brent crude to average $67.87 per barrel in 2025.  

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