Gas prices expected to trend lower in 2024

GasBuddy is out with its fuel forecast for the New Year, and it says people will be paying less to fill up at the pump for the second year in a row.The company said prices will go down a bit over the course of the year.”We’re hopeful that 2024 will feature prices that are a bit lower than 2023,” said Patrick De Haan, of GasBuddy.Nationwide, GasBuddy expects a 13-cent drop per gallon. That could add up to significant savings.”Motorists are going to be spending $32 billion less on gasoline across the country in 2024,” De Haan said.He said prices will fluctuate over the year in predictable ways.”All in all, there will be seasonal increases and decreases,” he said. “Gas prices are likely to start going up in mid-February, rise by Memorial Day and then level off and drop in the fall.”Several factors can change gas prices, including war, the economy and big weather events. GasBuddy said it tries to factor those into its New Year’s gas prediction.

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