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The national average for regular driving fuel now sits at $3.20 per gallon, according to AAA data. The last time gas prices were this low in 2023 was on Jan. 1, at $3.21.
So, what does that mean for the average price of gas in 2023? According to the U.S. Energy Information Administration’s Short-Term Energy Outlook report for December 2022, gasoline prices will ...
Gasoline prices hit 2023 highs this week as US crude topped $90 per barrel for the first time since November of last year.. The national average for gas, according to AAA, reached $3.87 per gallon ...
Gas prices hit new 2023 highs Monday as a squeeze on oil supply sent prices of refined products higher. The national average for gasoline in the US hit $3.88, according to AAA.In Western states ...
Gas prices hit a 2023 high earlier this month, renewing concerns that US inflation will reverse its downward trend. The upward trend is largely due to the 15% jump in crude oil prices seen in July .
A cost index is the ratio of the actual price in a time period compared to that in a selected base period (a defined point in time or the average price in a certain year), multiplied by 100. Raw materials, products and energy prices, labor and construction costs change at different rates, and plant construction cost indexes are actually a ...
"US gas price averages will largely be well below $3 per gallon in the last third of 2025 unless we see a hurricane impact the US Gulf Coast," said Kloza.
Kloza believes gas prices could drop to around $3.25 or $3.50 per gallon, and he doesn’t see this trend reversing until the middle of the first quarter of 2024.