No U.S. state currently has gas prices as low as $1.98 per gallon. The claim that some states have gas prices at $1.98 is false. The lowest statewide averages recently have been around $2.66 to $2.70 per gallon, such as in Texas, Mississippi, and Tennessee
. The $1.98 figure refers to the wholesale price of gasoline, specifically the RBOB (Reformulated Gasoline Blendstock for Oxygen Blending) futures contract price, which briefly touched $1.98 per gallon in April 2025. However, this wholesale price does not include taxes, transportation, blending with ethanol, and other costs that retail gas stations incur, so consumers do not pay this price at the pump
. In summary, while wholesale gasoline prices briefly hit $1.98, retail gas prices in America have not been that low in recent times, and no states currently have gas prices at $1.98 per gallon. The lowest retail prices are closer to $2.66–$2.70 per gallon in some states
