American Oil Companies Flooding The Market Will Force Gas Prices Down Even Further In 2024

Tensions are running high in the Middle East, but GasBuddy is forecasting lower gas and diesel prices for 2024. In particular, they’re expecting the yearly national average price of a gallon of gasoline to drop from $3.51 to $3.38 next year.

The company expects Americans will spend a total of $446.9 billion on gasoline with the average household shelling out around $2,407. The latter figure would be a 2% drop from 2023.

GasBuddy suggests the national average price for a gallon of gasoline could drop below $3 this winter, before approaching $4 per gallon towards the start of summer. The highest prices are expected in May, when the national average could climb as high as $3.89 per gallon.

Read Article