Why Gas Prices Won't Drop Below $3 In New York Until Next Year

Gas has dropped slightly across New York, but President Trump's energy expert has bad news.

Gas prices won't drop below $3 until next year!

Hudson Valley Drivers Feeling A Bit Of Relief

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Drivers in the Hudson Valley are finally feeling a bit of relief at the pumps. A small amount.

GasBuddy says the average cost of gas dropped by two to three cents across the Hudson Valley. Experts say this decline could be temporary, depending on tensions in the Middle East.

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As of this writing, the average price of gas in New York State is $4.10, down over 2 cents from last week. Before the Iran war began on February 28, 2026, the national average for a gallon of regular gasoline was approximately $2.98.

Don't Expect Gas Below $3 Any Time Soon

In an interview on CNN's State of the Union, Energy Secretary Chris Wright warned Americans that gas might not drop below $3 until 2027.

He did not note that prices have likely "peaked."

"That could happen later this year. That might not happen until next year," he told CNN when questioned about when gas prices will drop below $3. "But prices have likely peaked."

President Trump Disagrees

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President Donald Trump says Wright is "wrong."

He called Wright's comments "totally wrong" during a phone interview with The Hill, say gas prices will drop "as soon as this ends," referring to the ongoing conflict and blockade in the Strait of Hormuz.

LOOK: See how much gasoline cost the year you started driving

To find out more about how has the price of gas changed throughout the years, Stacker ran the numbers on the cost of a gallon of gasoline for each of the last 84 years. Using data from the Bureau of Labor Statistics (released in April 2020), we analyzed the average price for a gallon of unleaded regular gasoline from 1976 to 2020 along with the Consumer Price Index (CPI) for unleaded regular gasoline from 1937 to 1976, including the absolute and inflation-adjusted prices for each year.

Read on to explore the cost of gas over time and rediscover just how much a gallon was when you first started driving.

Gallery Credit: Sophia Crisafulli

High Gas Prices Might Be Good For New York

Gas prices continue to rise to unprecedented levels across the country, and while most people are right to think that is a very bad thing, there could be some good news when it comes to higher gas prices.

Gallery Credit: Dave Fields