Those heading out on the road for the holidays will receive the gift they’ve been waiting for all year: lower gas prices.
Holiday prices this year will be $1.83 per gallon lower than they were just six months ago, according to GasBuddy, the leading fuel savings platform saving North American drivers the most money on fuel.
The national average price of gas is forecasted to be $2.98 on Christmas Day, likely to drop below the critical $3 per gallon mark on or before Christmas Eve for the first time in nearly 600 days.
Since peaking at over $5 per gallon in June with prices in California reaching nearly $7 per gallon, the national average price of gas in the U.S. has slowly come down from record-breaking levels, falling below its year-ago level on Dec. 9. Since October, every one of the nation’s 50 states has seen gas prices plummet precipitously, with diesel starting to follow suit.
“As 2022 draws to a close, we’ve seen gas prices cut nearly in half in some areas compared to this earlier this year — a well-needed break from the sky-high prices we faced just six months ago,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “Finally, things are starting to feel a bit more normal with gas prices far more affordable. Americans are saving around $25 per fill-up compared to prices this summer,” according to De Haan. “While we’re closing out the year on a positive note, challenges remain that could drive prices up again next spring, so motorists might want to keep their expectations in check and enjoy the sub-$3 gasoline while they can.”
By the numbers:
$1.94 per gallon: decrease in the national average since June peak; 26: states now with average gas prices below $3 per gallon; $2.44 per gallon: the average price of the bottom 10% of U.S. gas stations; $2.99: the current most common gas price in the country; 25+: cities with average diesel prices now below $3.99 per gallon
GasBuddy suggests holiday travelers prepare by planning their route ahead of time, and downloading the free GasBuddy app to take advantage of its Search Along Route feature. Drivers can also sign up for Pay with GasBuddy to receive cents off every purchase.
GasBuddy is the leading fuel savings platform providing North American drivers with the most ways to save money on gas. GasBuddy has delivered more than $3.5 billion in cumulative savings to its users through providing real-time gas price information at 150,000+ stations, offering cash back rewards on purchases with brand partners, and through the Pay with GasBuddy™ payments card that offers cents-off per gallon at virtually all gas stations across the US. As one of the most highly-rated apps in the history of the App Store, GasBuddy has been downloaded over 100 million times.