AAA New Report Suggests a Decline in National Averages for Gas Prices

AAA’s new report shows hopeful indications that prices are declining at the pump. With holiday shopping in full swing, everyone is looking for a deal. One area where consumers will be able to save a small amount in the coming weeks is at the pump. A new report from AAA explains that the current national average for a gallon of gas is down 14 cents from just last week.

Tim Snyder, Chief Economist at Matador Economics explains what this drop means for consumers, and what 2023 might bring.

Tim’s Thoughts:

“There’s good news, however, for consumers on the retail front for gasoline and diesel prices, they’ve dropped over the last three weeks. The average drop in gasoline price is almost 26 cents per gallon, and the average drop in diesel fuel is 27 cents per gallon at the pump, and that’s over three weeks.

That not only helps struggling family budgets, but it also helps every consumer and it helps businesses of all sizes as well. This is the perfect example of a rising tide raising all ships. But we also expect this trend, which is purely seasonal to bottom within the next week before starting the trek back up and into the New Year’s demand.”

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