Gasoline prices are poised to end the year at 2023 lows. How does less than $3 a gallon sound?

[Nighthawk]

Ines Ferré
·Senior Business Reporter
Tue, December 19, 2023 at 6:53 PM GMT+1

Drivers can expect to end 2023 with gasoline prices around their lowest levels of the year. On Tuesday the national average price of gasoline was $3.08 per gallon, according to AAA data.

It could go lower.

Some analysts are predicting the national average will move below $3 per gallon sometime soon. "Last year saw a similar gasoline price swoon in December but this year’s version has much more breadth," said Tom Kloza, global head of energy analysis at OPIS.

Already, fueling sites in at least 28 states are offering gasoline below $3 per gallon, up from 11 states only a month or so ago. OPIS data indicates that 60% of US fueling sites now have gasoline available for less than $3 per gallon, while some individual states are flirting with $2.50-per-gallon levels.

...

“The savings for consumers is substantial,” said Kloza. “When US gasoline prices soared over $5 per gallon in June 2022, consumers were spending about $1.9 billion per day. At today’s lower numbers and adjusting for lower off-season demand, those expenses are about $775 million lower per day.”

https://finance.yahoo.com/news/gaso...oes-less-than-3-a-gallon-sound-175344624.html

Holy Moly! That´s a lot of savings - just in time for Xmas season.

 

[murray t turtle]

Ines Ferré
·Senior Business Reporter
Tue, December 19, 2023 at 6:53 PM GMT+1

Drivers can expect to end 2023 with gasoline prices around their lowest levels of the year. On Tuesday the national average price of gasoline was $3.08 per gallon, according to AAA data.

It could go lower.

Some analysts are predicting the national average will move below $3 per gallon sometime soon. "Last year saw a similar gasoline price swoon in December but this year’s version has much more breadth," said Tom Kloza, global head of energy analysis at OPIS.

Already, fueling sites in at least 28 states are offering gasoline below $3 per gallon, up from 11 states only a month or so ago. OPIS data indicates that 60% of US fueling sites now have gasoline available for less than $3 per gallon, while some individual states are flirting with $2.50-per-gallon levels.

...

“The savings for consumers is substantial,” said Kloza. “When US gasoline prices soared over $5 per gallon in June 2022, consumers were spending about $1.9 billion per day. At today’s lower numbers and adjusting for lower off-season demand, those expenses are about $775 million lower per day.”

https://finance.yahoo.com/news/gaso...oes-less-than-3-a-gallon-sound-175344624.html

Holy Moly! That´s a lot of savings - just in time for Xmas season.

%%
LOOKS like she is right;
CA + WA are highest on US map, dont know about HI.
Its already in $2.50s, mid south , XOM MUR, MRO, Shell......[BP a bit higher].
GA maybe lowest , they suspended gas tax , in MAR.
As of 12-20-2023,[ visual capitalist.com ,delayed data]

 

[newwurldmn]

I wonder I will see Biden “I did that stickers”

 

[SunTrader]

As usual the media is a little slow to see what markets are actually doing. Unleaded has come back 22.5 cents off of the Dec 13th swing low, although on declining volume so it may not be done dropping:-

 

[nitrene]

Not here in the SF area it is still $4.55.

 

[schizo]

Ines Ferré
·Senior Business Reporter
Tue, December 19, 2023 at 6:53 PM GMT+1

Drivers can expect to end 2023 with gasoline prices around their lowest levels of the year. On Tuesday the national average price of gasoline was $3.08 per gallon, according to AAA data.

It could go lower.

Some analysts are predicting the national average will move below $3 per gallon sometime soon. "Last year saw a similar gasoline price swoon in December but this year’s version has much more breadth," said Tom Kloza, global head of energy analysis at OPIS.

Already, fueling sites in at least 28 states are offering gasoline below $3 per gallon, up from 11 states only a month or so ago. OPIS data indicates that 60% of US fueling sites now have gasoline available for less than $3 per gallon, while some individual states are flirting with $2.50-per-gallon levels.

...

“The savings for consumers is substantial,” said Kloza. “When US gasoline prices soared over $5 per gallon in June 2022, consumers were spending about $1.9 billion per day. At today’s lower numbers and adjusting for lower off-season demand, those expenses are about $775 million lower per day.”

https://finance.yahoo.com/news/gaso...oes-less-than-3-a-gallon-sound-175344624.html

Holy Moly! That´s a lot of savings - just in time for Xmas season.

Man, get a grip on yourself. RBOB futures is trading nowhere near the historical low. Even when it was trading at 50-cents in early 2020, I didn't see $3/gallon at the pump. Not even close.

Edit: Well, I guess you'll get $3 if you live out in the boondock.

 

[SunTrader]

Man, get a grip on yourself. RBOB futures is trading nowhere near the historical low. Even when it was trading at 50-cents in early 2020, I didn't see $3/gallon at the pump. Not even close.

Edit: Well, I guess you'll get $3 if you live out in the boondock.

BJ's not too far from me is $2.70 and Shell 2 blocks away $2.99

 

[schizo]

BJ's not too far from me is $2.70 and Shell 2 blocks away $2.99

Ya lucky SOB. I live on the West coast and the last time I remember seeing price under $3 at the pump was back in the 80s. I highly doubt I would see $3 out here any time soon, if ever.