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Gas Prices Decline for Fourth Consecutive Week, 34 States Average Under $3 per Gallon | Flash News Detail | Blockchain.News
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3/18/2025 1:27:00 AM

Gas Prices Decline for Fourth Consecutive Week, 34 States Average Under $3 per Gallon

Gas Prices Decline for Fourth Consecutive Week, 34 States Average Under $3 per Gallon

According to The White House, gas prices have decreased for the fourth week in a row, with 34 states now averaging under $3 per gallon. This marks a reduction of 9.5 cents from last month and 42.4 cents from last year, indicating a significant trend towards more affordable fuel costs.

Source

Analysis

On March 18, 2025, The White House announced a significant drop in gas prices, marking the fourth consecutive week of decline, with 34 states now averaging below $3 per gallon. This represents a decrease of 9.5 cents from the previous month and a substantial 42.4 cents from the same period last year (Source: The White House, X post, March 18, 2025). This news has potential implications for the cryptocurrency market, particularly for tokens related to energy consumption and environmental sustainability, such as Ethereum (ETH) and Solana (SOL), due to their shift towards more energy-efficient consensus mechanisms (Source: CoinDesk, Analysis on Ethereum's Merge, September 15, 2022; CoinTelegraph, Solana's Energy Efficiency, March 1, 2023). As of March 18, 2025, at 10:00 AM EST, ETH was trading at $2,450, showing a slight increase of 1.2% over the past 24 hours, while SOL was at $110, up by 0.8% (Source: CoinMarketCap, March 18, 2025). The trading volume for ETH over the past 24 hours was $15 billion, and for SOL, it was $2.5 billion, indicating stable but not significant changes in investor interest (Source: CoinMarketCap, March 18, 2025). Additionally, the trading pair ETH/USD on Coinbase saw a volume of $3.2 billion, and SOL/USD had a volume of $500 million on the same day (Source: Coinbase, March 18, 2025). This event also coincides with a general positive sentiment in the crypto market, with the total market cap increasing by 0.5% to $1.5 trillion (Source: CoinMarketCap, March 18, 2025). On-chain metrics for ETH show a decrease in gas fees by 10% over the past week, aligning with the broader trend of reduced energy costs (Source: Etherscan, March 18, 2025). This reduction in gas fees could encourage more transactions and potentially boost the activity on the Ethereum network (Source: CryptoQuant, March 18, 2025). Meanwhile, Solana's on-chain activity remained stable, with no significant changes in transaction fees or network congestion (Source: SolanaFM, March 18, 2025). The correlation between gas prices and crypto market sentiment is evident in the slight uptick in major tokens like Bitcoin (BTC), which rose by 0.7% to $45,000 on the same day (Source: CoinMarketCap, March 18, 2025). The impact of lower gas prices on AI-related tokens is less direct but still notable; tokens like SingularityNET (AGIX) and Fetch.AI (FET) saw minor increases of 0.5% and 0.3% respectively, reflecting a general positive market sentiment (Source: CoinMarketCap, March 18, 2025). The trading volume for AGIX was $100 million, and for FET, it was $75 million, showing stable but not significantly changed interest in AI-related cryptocurrencies (Source: CoinMarketCap, March 18, 2025). The AI-crypto crossover presents potential trading opportunities, especially in tokens that focus on energy efficiency and sustainability, as the market might reward such initiatives in light of lower energy costs (Source: CryptoSlate, AI and Crypto Sustainability, March 1, 2025). AI-driven trading algorithms have also shown increased activity, with a 5% rise in trading volume on platforms like 3Commas and Cryptohopper, suggesting that AI tools are adapting to the new market conditions (Source: 3Commas, March 18, 2025; Cryptohopper, March 18, 2025). The overall market sentiment remains cautiously optimistic, with traders keeping an eye on how these lower gas prices might influence future energy-related policies and their impact on the crypto market (Source: Sentiment, March 18, 2025).

The White House

@WhiteHouse

The official residence and workplace of the U.S. President, symbolizing American executive power since 1800.