YORK, Pa. — As the ball gets ready to drop in the New Year, projections show that the price of gas is not far behind.
According to GasBuddy, the average price of gas is expected to drop to $3.38/gallon nationwide next year. That would be a 13-cent decrease from 2023 when the average price of gas was $3.51/gallon.
Analysts project most drivers will see some savings at the pump.
“2024 is going to feature a few cents of savings compared to 2023 every time you fill up," said Patrick DeHaan, the lead petroleum analyst with GasBuddy. “It’s going to mean savings of about $50 to $100 over the year; we’ll take anything we can get, with inflation having gone up significantly.”
Pa. drivers are expected to get some relief, as the state’s gas tax will decrease for the first time since 2018.
Starting in January, the gas tax will drop from 61 cents per gallon to 57 cents per gallon. However, Pa. will still have the highest gas tax in the nation, surpassing California by six cents.
“So, if you’re budgeting for the year, you can expect to pay anywhere from about $3.50 to about $3.85 a gallon," stated DeHaan.
GasBuddy adds that prices will fluctuate throughout the year, with peak gas prices being expected during the spring and summer months.
Even with the typical peaks and valleys, DeHaan said drivers will experience less pain at the pump in 2024.
“Be ready for the spring surge, but again, gas prices are likely to be moderately lower in 2024," said DeHaan.