As of May 29, gas prices in Alaska’s major cities have seen a notable decrease compared to the same period last year, aligning with national trends of declining fuel costs.
In Anchorage, the average price for a gallon of regular gasoline is currently $3.58, down from $4.25 a year ago, a decrease of 67 cents, according to GasBuddy, a blog that tracks fuel prices.
That is a nearly 20% drop in prices since last year, when Biden was president. We found gas at Circle K on Old Seward Highway as low as $3.46.
The reduction reflects a broader national trend, with the US average price of gasoline at $3.13 per gallon, which is 43 cents lower than a year ago.
The highest gas price ever recorded in Anchorage history was during the Biden Administration on June 20, 2022, at $5.56, with diesel selling at $6.07.
Fairbanks residents are currently paying an average of $3.69 per gallon for regular gasoline, compared to $4.21 at this time last year, a 52-cent decrease, according to AAA.
Juneau drivers are paying an average of $3.62. It’s higher in Ketchikan, at $4.76, according to AAA.
Statewide, the average is $3.66, compared with $4.26 one year ago. Check the AAA chart at this link for your area.
“While the national average didn’t fall quite as far as anticipated for Memorial Day, it was still one of the most affordable since 2021 — and, when adjusted for inflation, among the cheapest in nearly a decade,” said Patrick De Haan, head of petroleum analysis at GasBuddy in a blog post. “As we move into the heart of summer, I believe we’re likely to see a relatively stable stretch for gas prices as refinery maintenance wraps up. Don’t expect the national average to rise above $3.30 per gallon, nor drop much below $3 for now. While refining issues on the West Coast are beginning to ease, several factors could still influence prices in the weeks ahead — including growing uncertainty around the upcoming hurricane season. We’ll also be watching OPEC+’s meeting this week to see if they boost oil production again for July as well.”
The US Energy Information Administration reported that the national average price for regular gasoline was $3.16 per gallon as of May 26, down 41.7 cents from the same time in 2024.
According to the EIA’s short-term energy outlook released in May, the average US regular gasoline retail price is projected to be $3.09 per gallon in 2025, down from $3.31 in 2024.
“The national nightmare that was Biden’s war on American energy is over,” the White House wrote last week. “After President Donald J. Trump declared a National Energy Emergency on his first day in office, his administration has taken relentless action to revive the nation’s energy capabilities and undo the Biden-era stranglehold on American energy production.”
In October of 2022, Democratic state Sen. Bill Wielechowski and Sen. Scott Kawasaki sent a huffy demand letter to Alaska Attorney General Treg Taylor, reiterating their unfounded claim that Alaska gasoline prices were high due to collusion and price gouging.
