Gas Prices Expected to Fall in 2024

The industry tracker predicts Americans will spend 32-billion-dollars less.

Gas 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-dollars less at the pump next year. It projects an average per-gallon price 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 would be good news for consumers, who are highly sensitive to swings in the cost of living, especially at the gas pump. A couple years ago, gasoline prices skyrocketed to record highs as Russia’s invasion of Ukraine set-off global shockwaves.