Low Gas Prices Are This Season's Gift That Keeps On Giving
AAA predicts gas prices will fall even lower in the coming days as the travel season heats up.
As prices continue to rise on just about everything, gas has become the best bargain in town.
According to AAA, gas prices are “sleighing” this travel season — That is, they are within a penny of the 2022 low of $3.09. What’s more, they are expected to drop even further in the coming days as we inch closer to the Christmas and New Year’s Eve holiday travel period.
“It is likely that the national average will slide below $3 per gallon by the end of the year,” said AAA spokesperson Andrew Gross said in a statement.
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Not all gas prices are falling at the same rates nationwide, however. People traveling in Michigan and Florida, for example, will find prices have dropped 17 cents since last week. In Montana, Washington D.C. and Kentucky prices fell 12 cents in the same time period. The report contradicts AAA's earlier prediction that prices would start to rise.
It’s no surprise then that people are getting in their cars in record numbers. AAA reported a 2.3% increase in holiday travel during Thanksgiving this year compared to last. The automotive organization forecast that 104 million Americans will drive during the 10 day period between December 23, 2023 and January 1, 2024, a 2.2% increase over 2022 and the second-highest year-end forecast since 2000 when AAA began tracking holiday travel.
Busiest days to be on the road
As expected, more people on the road (along with the potential for some messy weather in the days leading up to Christmas) means more potential for traffic. According to AAA, using data from transportation data and insight provider INRIX, Saturday, December 23 and Thursday, December 28 are expected to be the two busiest days on the road.
Other considerations to keep in mind as you get on the road are other travelers. A December 2023 study from app GasBuddy found that U.S. drivers are up to 48% more aggressive on the roads during the holiday season.
“Aggressive driving can negatively impact fuel efficiency, causing drivers to waste money that could be spent on holiday celebrations or gifts for loved ones,” said Patrick DeHaan, head of petroleum analysis at GasBuddy.
AAA has a travel planner with maps, directions and gas prices along your route, and apps like GasBuddy can help you locate and pay for the least expensive gas.
RELATED CONTENT
Get Kiplinger Today newsletter — free
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.
Jamie Feldman is a journalist, essayist and content creator. After building a byline as a lifestyle editor for HuffPost, her articles and editorials have since appeared in Cosmopolitan, Betches, Nylon, Bustle, Parade, and Well+Good. Her journey out of credit card debt, which she chronicles on TikTok, has amassed a loyal social media following. Her story has been featured in Fortune, Business Insider and on The Today Show, NBC Nightly News, CBS News, and NPR. She is currently producing a podcast on the same topic and living in Brooklyn, New York.
-
A Checklist for Retiring in 2025
Navigating the final stretch of your professional career can be daunting. We've compiled a checklist to help you put your best foot forward into retirement.
By Alina Tugend Published
-
Leave Your Life Story as a Legacy for Your Heirs
Here are eight resources to help pass your life story on to your family. How do you want to be remembered?
By Kathryn Pomroy Published
-
Visa, Mastercard's Swipe Fee Settlement Might Save You Money, For Now
The limited-time agreement directly benefits merchants, which can potentially pass savings on to consumers.
By Keerthi Vedantam Published
-
New List Out On Medicare Part B Drugs Eligible for Rebates
Some Medicare beneficiaries may pay lower coinsurance rates from April 1 to June 30 for the drugs, HHS says.
By Joey Solitro Published
-
Use An iPhone? You May Be Hearing From A Class-Action Lawsuit Group
A handful of suits against the iPhone maker seek to crack down on everything from app store purchases to messaging.
By Keerthi Vedantam Published
-
Capital One/Discover: What's In Their Wallet For You?
Push back on Capital One's planned merger with Discover is growing with one group of consumer advocates calling for a public hearing.
By Keerthi Vedantam Published
-
Lawmakers: Nix Social Security Offsets For Seniors In Student Loan Default
Offsetting Social Security benefits to pay for defaulted student loans can be devastating for some beneficiaries, lawmakers say.
By Joey Solitro Published
-
Stellantis Recalls 285K Vehicles Over Airbag Problems
Defective airbag inflators on certain Chrysler and Dodge vehicles could rupture and cause injury or death, NHTSA says.
By Joey Solitro Published
-
HHS Funding Secured As Major Government Shutdown Avoided
With passage of the fiscal 2024 appropriations package, Medicare and Social Security are among the key agencies to receive funding through September 30.
By Esther D’Amico Last updated
-
State Farm To Exit Homeowner Renewal Policies in California
State Farm plans to send non-renewal notices to 72,000 home and apartment policyholders starting this July.
By Esther D’Amico Published