Lower Gas, Diesel Prices Predicted for 2024

UNDATED (WJON News) -- Gas and diesel prices are expected to be lower in 2024.

GasBuddy released its annual Fuel Price Outlook Thursday with some good news for drivers.

They expect the yearly national average will drop from $3.51 per gallon this year to $3.38 in 2024.

GasBuddy says gas prices still could fall below a national average of $3 per gallon this winter before starting to rise in late February, then getting close to $4 per gallon as summer approaches.

Average yearly spending per household will fall to an estimated $2,407, down two percent from 2023, and over 12 percent less than in 2022.

Memorial Day will be the priciest 2024 holiday at the pump, with the national average price of gasoline expected to be between $3.56 and $4.04 per gallon for the holiday.

Diesel prices are also predicted to fall from 2023, peaking at $4.13 per gallon in March 2024.

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GasBuddy says uncertainty remains in the late summer during hurricane season.

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