Gas prices will continue to fall in 2024, predictions say
(CNN) – Gasoline prices will drop in 2024 for the second year in a row, according to projections from GasBuddy.
The industry tracker predicts Americans will spend $32 billion less at the pump next year.
It projects an average price per gallon of $3.38 in the upcoming election year.
That would be 13 cents less than this year, and a big drop from 2022′s average per gallon of $3.95.
The forecast is good news for consumers, who are highly sensitive to swings in the cost of living, especially at the gas pump.
Average yearly spending per household will fall to an estimated $2,407, down 2% from 2023 and over 12% from 2022.
A couple years ago, gasoline prices skyrocketed to record highs as Russia’s invasion of Ukraine set off global shockwaves.
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