Gasoline prices have fallen to just over $3 per gallon.

That's good news for consumers and the Trump administration after President Trump promised to bring down prices, but it could complicate a "drill, baby drill" agenda.

And whether prices will stay low may depend on whether the administration’s sanctions on Russia are effective, experts say.

The national average gasoline price stood at $3.07 per gallon on Friday, according to AAA.

That’s down from $3.16 a month ago and $3.15 a year ago.

It’s also very low compared to where prices were over the past few years, when spikes occurred because of Russia’s invasion of Ukraine and the COVID-19 pandemic recovery. At their highs, they reached more than $5 per gallon in the summer of 2022.

Analysts attribute the currently low prices to high levels of oil supply as OPEC nations bring more to the market.

“Over the last two years, OPEC has restored 2.2 million barrels a day of voluntary production cuts, and they're in the midst of restoring another 1.65 million barrels a day over the next 10 or 11 months — and this is happening at a time when world oil demand growth has been lackluster,” said Andrew........

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