Gas prices at a Chevron gas station in Newhall, CA. Monday, September 18, 2023. The average price of a gallon of regular gas in Los Angeles County rose 4.8 cents today to $5.915, a day after increasing 13.6 cents. The average price has risen 52 times in the last 57 days, increasing 94.3 cents, according to figures from the AAA and Oil Price Information Service. (Photo by Hans Gutknecht/MediaNews Group/Los Angeles Daily News via Getty Images)
Hans Gutknecht | Medianews Group | Getty Images
U.S. drivers can expect the cheapest gas prices on Thanksgiving day since 2020.
The national average for gallon of regular gas was about $3.31 on Monday, 25 cents cheaper than a month ago and 36 cents lower than the same period in 2022, according to AAA.
The average national price for a gallon of gas could hit $3.25 by Thursday, which would be the cheapest price on Thanksgiving day since 2020 when the Covid-19 pandemic crushed demand and gas fell to $2.11 per gallon, according to GasBuddy.
Gas has dropped below $3 a gallon in 11 Southern and Midwestern states as of Monday, according to AAA. Those states are Alabama, Arkansas, Georgia, Iowa, Louisiana, Mississippi, Missouri, Oklahoma, South Carolina, Tennessee and Texas.
Prices have fallen for nine weeks now and are on the longest downward streak since the summer of 2022, said Patrick de Haan with GasBuddy.
Gasoline futures, YTD
More than 65,000 gas stations are selling gas at $2.99 per gallon or less right now and another five states could see average prices below $3 per gallon by Thanksgiving, de Haan said.
“Americans collectively going to spend about $1.2 billion less on gasoline from Monday through Sunday from last year,” de Haan said.
OPEC decision ahead
Gas prices could continue to fall for another week or two and potentially dip below last winter’s bottom of $3.05 a gallon, De Haan said. But a lot depends on whether the Organization of Petroleum Exporting Countries implements another oil production cut at their Nov. 26 meeting.
“If OPEC makes a sizable production cut, I think that pretty much ends the potential of us falling below what we saw last year,” de Haan said.
More than 55 million Americans are expected to travel for Thanksgiving, according to AAA. Despite falling gas prices and slowing inflation, about 20% or respondents to GasBuddy’s travel survey said they could not fit holiday travel into their budget due to other areas of inflation.
The drop in gas prices largely reflects a seasonal weakening of demand, though a decline in oil prices over the past several weeks has been the “icing on the cake,” de Haan said.
Crude oil futures YTD
U.S. gas prices are falling after a recent oil selloff as domestic crude oil inventories rose amid worries that demand is softening.
West Texas Intermediate, the U.S. benchmark, briefly fell into a bear market last week, down 22% from its September closing high. U.S. crude traded higher Monday at $78.02 a barrel, an increase of $2.13 or 2.81% from the previous session on expectations that OPEC might cut production again.
Gasoline demand fell to 8.9 million barrels per day in the week ending Nov. 10, compared to 9.5 million bpd in the week prior, according to the U.S. Energy Information Agency.
At the same time, domestic crude inventories rose by 3.6 million barrels to a total of 439.4 million barrels, outstripping expectations. U.S. crude production continues at a record clip of 13.2 million bpd.
Less than a week after Kia unveiled the EV4, we are already getting our first look at the sporty GT model. When it arrives, the GT variant is expected to be one of the most affordable electric sports cars and what could be Kia’s most powerful vehicle yet. But can it keep up with the Tesla Model 3 Performance?
The EV4 is Kia’s first electric sedan and hatchback. During its EV Day last week (see our recap), Kia showcased four EV4 models, two sedan and two hatchback trims.
Each had a standard and GT-Line model. Now, we are getting our first look at the high-performance GT version. Remember when the EV6 GT arrived in 2022 as “the most powerful Kia production vehicle ever?”
With 576 horsepower, the sporty EV6 GT can sprint from 0 to 60 mph in just 3.4 seconds. That’s faster than your average Ferrari or Lamborghini, and it’s about half the cost starting at just over $60,000.
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Well, the EV4 GT will likely be an even bigger hit with an expected lower price tag and what could be even more power.
After Kia’s electric sports car was spotted in public for the first time, we are learning a few upgrades you can expect to see. The video, courtesy of HealerTV, shows a camouflaged model testing in Korea. However, the orange light on the side of the bumper indicates it is actually an export model.
First look at the Kia EV4 GT electric sports car
At a quick glance, it looks just like the EV4 GT-Line. Looking closer, you can see Kia upgraded the EV4 with sporty wheels (what appears to be 20″), giving it a similar look to the K8.
The interior will feature Kia’s new ccNC (connected car Navigation Cockpit), which includes dual 12.3″ driver display and infotainment screens with wireless Apple CarPlay and Android Auto.
Kia EV4 spotted for the first time in Korea (Source: HealerTV)
You can expect to see the most significant differences in the interior and in performance. Like Kia’s other GT models, the EV4 is expected to feature a dual-motor AWD powertrain, but exact specs will be revealed closer to its official launch.
The upgraded EV6 GT, launched in Korea in November, now packs 641 horsepower and 561 lb-ft of torque (when Launch Control is active), thanks to improved front and rear electric motors.
It also gets redesigned front and rear bumpers, suede-trimmed sport bucket seats, and a heat pump (standard on all AWD trims).
Like Hyundai’s IONIQ 5 N, the new EV6 GT includes a Virtual Gear Shift (VGS) that simulates the sounds and feel of a sports car engine. We got a look at it in action in December after HealerTV got their hands on one to try it out.
Kia EV4 interior (Source: Kia)
We’ll have to wait for the official word on prices, but with the EV4 slotted below the EV6 in Kia’s lineup, the GT model will likely cost around $50,000 to $55,000. That’s much less than your average sports car. The standard EV4 is expected to hit the market later this year, starting at around $35,000 to $40,000.
In comparison, the Tesla Model 3 Performance AWD starts at $54,990 with 510 horsepower, good for a 0 to 60 mph sprint in 2.9 seconds.
Would you buy Kia’s electric sports car for around $50,000? Drop us a comment below and let us know what features and specs you’d be looking for. Check back soon for more. We’ll keep you updated with the latest.
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In another highly visible failure for hydrogen in the real-world, all 25 of the fuel cell-powered buses in the Poznan, Poland fleet failed at the same time yesterday morning, forcing the city to scramble diesel buses into action.
The City of Poznań, Poland deployed the first two of its hydrogen-powered Solaris in 2023. The deployment of these HFC buses was part of a larger, 25 unit order placed by the city back in in October 2022 — and, for a time, it seemed like the deployment was largely successful. That is, until all 25 buses broke down at once early Monday morning.
A spokesperson for MPK Poznań, the city’s bus operator, reportedly told Hydrogen Insight that the onboard computers on each bus signaled the failure at once, and that the issue was being investigated with help from Solaris, the bus manufacturer, and the hydrogen fuel supplier.
The company also told the the Sustainable Bus news site that, “the most likely cause of the malfunctions in several hydrogen buses in Poznań is poor fuel/hydrogen quality,” while another (?) spokesperson told local paper Wyboecza that the hydrogen purity must reach 99.97%. “This means that the hydrogen can only have 0.03% of other gases.”
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378 fuel cell buses were registered in the EU in 2024, up 82% YOY, with Solaris controlling 65% of the HFC bus market. For context, approximately 49% of all new city buses sold in the EU in 2024 were ZEVs. Given that the total number of city buses registered in the EU in 2024 was around 35,000, this translates to approx. 17,150 zero-emission city buses, which puts the score at 378 HFCEVs to 16,750 BEVs (give or take 378).
The solar industry is bracing for a turbulent year, and SolarReviews’ newly released 2025 Solar Industry Survey lays out exactly why. The survey, now in its third year, gathered insights from solar companies across the industry between December 2, 2024, and January 3, 2025, covering everything from the Inflation Reduction Act to workforce development and the state of the supply chain.
Ben Zientara, industry and policy analyst at SolarReviews, summed up the findings: “With pandemic-related supply chain issues largely in the rearview mirror, the industry is now overwhelmingly concerned about political uncertainty and the potential for new tariffs and changes to solar incentives.”
The biggest takeaway – the solar industry is on edge about what’s coming in 2025. More than half (56%) of companies flagged the possibility of new tariffs as a major concern, while 50% are worried about changes to solar incentives. Legislative and political uncertainty isn’t helping either, with 46% of respondents citing it as one of their biggest fears. Considering that Trump’s declaration of a national energy emergency excluded solar from its definition of energy resources, that’s unsurprising.
The outcome of the 2024 US elections has also influenced business confidence. A third (34%) of respondents said their outlook for 2025 became more negative due to election results, while nearly half (48%) reported no change. Only 18% said they felt more optimistic about their business prospects after the elections.
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Despite these worries, most solar companies remain resilient. Just 7% of respondents said they were concerned about staying in business over the next six months, while 38% expect to see their business grow this year.
One bright spot is the supply chain. Over the past two years, supply chain disruptions have steadily improved, with 43% of businesses reporting that conditions were better in 2024 compared to 2023. That’s a slight dip from the previous year when 69% of companies saw an improvement, but still a positive sign. Only 11% said supply chain issues worsened year-over-year.
Residential solar installers continue to evolve, expanding their services beyond solar panels. The vast majority (92%) of installers now offer energy storage installation, up from 74% last year. Similarly, 86% of companies are installing EV chargers, up from 64% in the previous year.
Installers named Qcells, REC, and Silfab as their go-to solar module brands, while Enphase, Tesla, and SolarEdge dominated the energy storage space.
However, one of the biggest challenges in 2024 was the wave of solar company closures. A staggering 81% of installers reported that at least one large competitor in their service area shut down. More than 57% said these closures led to negative outcomes, including an increase in service calls from customers left in the lurch by their former solar providers. To adapt, nearly a quarter of residential installers now offer third-party warranty coverage as a way to boost customer confidence and secure more sales.
Ultimately, US solar is still expected to continue its growth trajectory and maintain its top leadership among energy sources.
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