Gas prices expected to fall after local increase in past year
AUGUSTA, Ga. - Gasoline prices will drop in 2024, according to projections from GasBuddy.
Gas prices right now are only down slightly from a year ago, according to AAA.
On Thursday, the national average is $3.12 per gallon, down a penny from a year ago.
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Prices are actually up from a year ago in Georgia and South Carolina.
In the Peach State, prices Thursday averaged $3.01, compared to $2.71 a year ago – although that could be mostly a reflection of the resumption of the state’s gasoline tax. In South Carolina, the average Thursday was $2.91, compared to $2.82 a year ago.
In Augusta on Thursday, the price Thursday stood at $2.99 Thursday, compared to $2.68 a year ago.
In Aiken County, the average Thursday was $2.92, compared to $2.79 a year ago.
GasBuddy predicts Americans will spend $32 billion less at the pump next year.
The forecast is good news for consumers, who are highly sensitive to swings in the cost of living, especially at the gas pump.
Average yearly spending per household will fall to an estimated $2,407, down 2% from 2023 and over 12% from 2022.
A couple of years ago, gasoline prices skyrocketed to record highs as Russia’s invasion of Ukraine set off global shockwaves.
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