Around 100M Americans are expected to travel by vehicle this winter holiday season
According to GasBuddy, the national average price for a gallon regular gasoline will fall to $3.25 per galon by Christmas.
According to GasBuddy, the prices at the pump have fallen by 10 cents since Thanksgiving. This is a little hope for holiday drivers who are expected to travel in the millions.
According to AAA, the current national average is currently $3.312,
Patrick De Haan from GasBuddy’s petroleum analysis said, “We got a Christmas present that few should complain about: falling gasoline prices at a moment when millions of Americans spend their hard-earned dollars on gifts for loved ones.” They should not worry about expensive gasoline.
This is also when thousands of Americans travel to holiday parties.
AAA estimates that more than 109million people will travel at least 50 miles between December 23rd and January 2, 2019, which is 92% higher than the 2019 level. The majority of these travelers, approximately 100 million, intend to travel by automobile.
Although the price drop is good news, it may not be the best news.
The national average price of a gallon gasoline was $3.26 in 2013. This is just one penny less than GasBuddy’s 2021 projection.
De Haan stated that while we may be able to scrape by the 2013 Christmas tally at $3.25/gal, the good news for prices is that they should continue to moderate into 2021.
De Haan pointed out earlier this week that pump prices have been falling in almost every major city.
De Haan stated that the price of crude oil remains $13 per barrel lower than its 2021 peak. This trend will likely continue for another week.
