New data shows drivers can expect lower gas prices in 2024

GREENVILLE, N.C. (WITN) – If saving money is your New Year’s resolution, we have some good news when it comes to gas prices.

GasBuddy released its new fuel price outlook on Thursday that shows drivers can expect lower prices next year.

Nancy Brown says she looks forward to paying less at the pump in 2024 when it comes to her livelihood.

“I’m a CNA and I do travel a lot and that’s part of the job traveling from home to home. So, yes that would definitely be a plus to my pocket as well” says Brown.

The report highlights trends in gasoline and diesel costs after two years of above-average prices.

GasBuddy representative Patrick De Haan says there are many reasons for the decrease.

“First and foremost the us is producing record amounts of crude oil, plus within balances from Russia, the war in Ukraine, and COVID behind us, we continue to see oil prices dropping,” says De Haan.

The outlook forecasts the highest prices will be seen at the peak of the summer driving season in May.

Brown says she welcomes the change and knows exactly what she will do with the extra money.

“Probably going to food, now if they can figure out a way to bring the food prices down we’ll really be rolling and cooking in grease for sure,” says Brown.

GasBuddy says drivers can also save money by signing up for free loyalty programs and taking advantage of cash discounts.

The yearly national average will drop from $3.51 per gallon this year to $3.38 in 2024.