2020 brings good news at the gas pump
Published 12:00 am Wednesday, January 8, 2020
According to GasBuddy, the national gas price in 2020 will be lower than in 2019.
GasBuddy, a smartphone app helping consumers avoid high gas prices, predicts that 2020 will reflect a national average of $2.60 per gallon.
This price represents a 2 cent drop from 2019.
“Hit the road, America! It will be another year where gasoline prices will be relatively affordable- but don’t close your eyes- the price variation between stations and states will approach record levels. Never has there been a bigger opportunity to spend less, or to spend more, if you aren’t checking prices before filling up,” said Patrick De Haan, head of petroleum analysis.
According to the petroleum analysis expert, gas prices will start with a “2” in most areas around the country. A few other highlights from the 2020 fuel outlook included:
The nation’s yearly gasoline bill will rise to $373 billion dollars, an increase of over $1 billion from last year as the average household sees their annual gasoline spending rise to $1,935.
The national average is forecast to rise as much as 75 cents per gallon from a low in early February to a possible peak in May, as the seasonal switch to summer gasoline leads to notable jumps and causes some stations to raise prices much quicker than others, leading to buying opportunities for motorists who compare prices.
75% of the country’s largest metro areas are at risk for seeing average prices hit $3 per gallon at some point in 2020, including Atlanta, Boston, Chicago, Cleveland, Detroit, Miami, New York City, Philadelphia, Phoenix, and Washington, D.C. while four could see close to or over $4/gal: Los Angeles, Sacramento, San Francisco, and Seattle.