Great News at the Pump: Gas Prices Are Expected to Fall Through 2017
If you’ve been facing anxiety at the pump over the past several weeks, I’ve got a bit of good news for you.
Industry experts say the price of gas is on the decline — and that trend may continue through the end of the year, according to USA Today.
Jeanette Casselano, a spokesperson at AAA, told the publication that it’s not uncommon for gas prices to drop by 10 to 15 cents per gallon in the months leading up to the year’s end.
Talk about the perfect Christmas gift!
According to Gas Buddy, the average cost of regular gas in the U.S. has already gone down from $2.67 per gallon at the highest peak this summer to $2.46, the current average national price per gallon.
However, we have yet to get back to this year’s lowest average of $2.23 per gallon recorded on July 5.
Luckily, industry analysts say reduced demand — as folks curb their driving this fall — will contribute to a further decline in gas prices, USA Today reports. The post-hurricane recovery of crude oil refineries in the U.S. and an abundant supply of gas worldwide also help the situation.
But what about new tensions in a major oil-producing region in the Middle East?
Casselano told USA Today it doesn’t seem to be affecting global supply.
To make sure you’ll continue to have lower totals on your gas receipts, you’ll want to monitor which stations are selling the cheapest gas near you and make sure you don’t miss out on any deals.
Also, don’t forget to take advantage of local grocery stores that offer discounts on fuel. That’s money saved for purchasing all the food and supplies you’d be buying anyway!
Nicole Dow is a staff writer at The Penny Hoarder.