**Title: Gas Prices Plummet Below $3 a Gallon as Election Day Approaches**

In June 2022, Americans were gripped by a financial nightmare as gas prices surged above $5 a gallon for the first time in history. This unprecedented spike caused a significant economic strain for consumers and created a political challenge for the Biden-Harris administration, one they have been grappling with ever since. However, in a surprising turn of events, gas prices are now falling sharply, offering a reprieve to millions of Americans just as they prepare to vote.

The national average for gas prices is now $3.13 a gallon, a significant drop from last year's $3.50 a gallon. This trend is especially notable in key battleground states, with Nevada and Arizona seeing prices decrease by 79 cents and 78 cents respectively. The possibility of gas prices plunging below $3 a gallon in the next week or two appears strong, according to Patrick De Haan, head of petroleum analysis at GasBuddy.

This decrease undermines a critical argument used by Republicans to criticize Democrats over the cost of living. De Haan believes reaching the $3-a-gallon mark is psychologically significant and indicates a return to more stable pricing levels.

Despite the decrease in gas prices and easing inflation, many Americans are still reeling from years of economic pressures. Moody's Analytics reports that the typical US household is spending $1,120 more per month compared to January 2021. However, it is also noted that household incomes have risen by an average of $1,193 per month over the same period.

Former President Donald Trump has frequently highlighted that gas prices were below $2 a gallon during his tenure, citing the $1.77 average in April 2020. However, this was during a period of severely reduced demand due to the pandemic, which limited the benefit of these low prices.

The current drop in gas prices comes amidst global oil market fluctuations, influenced by geopolitical tensions and supply dynamics. Specifically, a recent retaliatory attack by Israel on Iran did not target energy infrastructure, leading to a 6% fall in US crude prices to $67.38 a barrel. This incident avoided major disruptions, easing market fears of a broader conflict that could spike prices.

Analysts now observe that oil supply remains robust, particularly in the US, which is producing record amounts of oil. Citigroup has adjusted its short-term oil price forecast, predicting Brent crude could fall to $60 a barrel by mid-2025, posing new questions for the incoming president on managing potential oil price deflation.

While the future is uncertain and global events could once again impact oil prices, the current trend suggests continued lower gas prices for American consumers. Projections indicate that gasoline spending will account for just 2% of real disposable income per capita in October. This shift reflects a relatively small portion of household budgets devoted to fuel, which may provide some economic respite as voters head to the polls.