Gasoline prices have stabilized after peaking mid-year, when the average price per gallon exceeded $5. Some projections suggest that values could continue to rise by 2023.
The company focused on real-time fuel prices GasBuddy projected to CNN that the price per gallon could cross the $4 threshold by May 2023. Despite the changes, the abrupt changes registered in mid-2022 are not expected to be repeated.
The company said that the national average could range from $3.52 to $4.05 in Maywhich is when Americans hit the road the most during warmer weather.
Among the estimates made, he highlighted that the national average for regular gasoline will then drop to $3.49 per gallon in 2023. In case of such a scenario, families could spend an average of $277 less in fuel in the year and the total cost in $55,000 million dollars.
The average price of a gallon of gasoline for today, Tuesday, December 27, according to AAA, is $3,104 dollars. The figure is slightly higher when compared to $3,102 yesterday, $3,123 a week ago, $3,555 a month ago, and $3,286 a year ago.
In early December the Energy Information Administration (EIA) said that the national average per gallon is expected to reach $3.50 by 2023 as refineries continue to ramp up gasoline production.
In more than 15 states of the country, a gallon of gasoline is below $3 dollars. In states like Texas, the gallon is located at $2.66 dollars; Missouri, $2.69; in Oklahoma, Georgia, and Arkansas it is $2.70; Louisiana and Kansas is $2.75; Mississippi, $2.72; Tennessee, for $2.73; South Carolina and Kentucky, for $2.78.
Prior to the recent forecast, GasBuddy reported that gasoline prices would drop below $3 per gallon by the holiday season.
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