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In our recent GOBankingRates "Year in Review" survey, consumers were asked to name economic factors that impacted their finances the most in 2022, and almost 25% of respondents said rising gas ...
Gas prices have been on a downward trend recently, with the national average at $3.40 per gallon, according to AAA. The EIA forecasts the average for 2023 to come in at $3.55 per gallon, compared ...
The Energy Information Administration forecasts gasoline will average $3.36 next year, compared to $3.53 in 2023. The EIA also expects gasoline demand to fall by 1% in 2024, which would translate ...
2023: $3.52. Historical gas prices and trends. ... $3.24. South Dakota: $3.37. Tennessee: ... Predictions on the overall cost of gas for 2024 change regularly, in part because of the implications ...
The United States federal excise tax on gasoline is 18.4 cents per gallon and 24.4 cents per gallon for diesel fuel. [ 1 ] [ 2 ] Proceeds from the tax partly support the Highway Trust Fund . The federal tax was last raised on October 1, 1993, and is not indexed to inflation , which increased 111% from Oct. 1993 until Dec. 2023.
While prices have come down since the peak in June, prices were beginning to tick up again. Gas prices hit $3.79 a gallon the week of September 29, 2022, up from $3.73 on September 23, 2022 — an increase of $0.06 per gallon over the last week. [14] Since October 10, 2022, the price of gasoline has gone down again.
In Europe, gas prices increased by more than 450%, and electricity by 230% in less than a year. [108] On February 22, 2022, before the Russian invasion, the German Government froze the Nord Stream 2 pipeline between Russia and Germany , [ 109 ] causing natural gas prices to rise significantly.
The national average gasoline price was around $3.25 a gallon Wednesday, down from $3.31 a week ago and $3.45 a month ago. The decline in prices is typical for the early fall, said DeHaan.