Gas Prices in the United States will See Relief Soon

ttruong53

Gas prices are expected to be below $3/gallon on average next year.

Many U.S customers will see relief in gas prices soon. According to the AAA, the average gas price in the U.S is $3.34/gallon as of December 8, 2021.

Meanwhile, the most expensive state for gas is California, with $4.69/gallon. On the other hand, the least expensive state for gas is Oklahoma, with $2.92/gallon.

Due to the uncertainty of the new variant of COVID-19, many countries have imposed new travel restrictions.

Crude oil is used in jet fuel, motor oil, gasoline for cars, etc. There is less demand to travel because of the new travel restrictions, so gas prices will get lower.

According to the U.S Energy Information Administration (EIA), the average gas price in the U.S for regular gas will drop to $3.01/gallon in January 2022.

U.S gasoline prices averaged $3.39/gallon in November 2021, the highest price level since September 2014.

Many consumers like me will pay less for gasoline to fill up their vehicles soon. I noticed that gas prices are dropping again after increasing for a while.

No one likes having to pay more for gas. If gas prices increase too much, many people will stop traveling long distances or replace their vehicles with more fuel-efficient vehicles.

A relief in gas prices means that consumer spending on other items will go back up soon since people are more willing to travel longer distances.

The less money consumers have to spend on gas, the more money they can spend on other things or put into their savings accounts.

I hope that gas prices will get lower than $2.50/gallon because it’s a win for all of us.

Comments / 46

Published by

Student at Kansas State University majoring in Finance. I cover stories that are related to lifestyle, education, local news in the Salina, KS area, and more.

Salina, KS
123 followers

More from ttruong53

Comments / 0