GasBuddy predicts lower gas prices in 2024

GasBuddy says that drivers will see some relief at the pump in 2024.

GasBuddy has released its annual fuel price outlook. The outlook highlights trends in gasoline and diesel prices, forecasting that, after two years of above average gas prices, 2024 will bring relief at the pump.

Highlights from GasBuddy’s fuel outlook:

• Gas prices are likely to fall below a national average of $3 per gallon this winter before starting to rise in late-February, then mildly decline into summer, with hurricane season presenting uncertainty in late summer.

• Drivers in some California cities are likely to see prices above $6 per gallon, although most major U.S. cities will see prices peak at or slightly below $4 per gallon.

• Average yearly spending per household will fall to an estimated $2,407, down 2 percent from 2023, and over 12 percent less compared to 2022.

The outlook forecasts the highest prices will be seen at the peak of the summer driving season in May, with the national average rising as high as $3.89 per gallon.

Diesel prices are also predicted to fall incrementally, peaking at $4.13 per gallon in March.

For information, visit www.gasbuddy.com.