(NewsNation) — Gasoline prices have plummeted to under $3 per gallon, marking their lowest point in more than four years.

As of Friday, the average national price for regular unleaded fuel has decreased to $2.95, the most affordable since May 2021, according to data from GasBuddy.

Several factors, including reduced oil prices, robust refinery production, and a decline in consumer demand, have led to a decrease in fuel costs across all 50 states over the past week. GasBuddy described this widespread drop as “exceptionally rare.”