ARKANSAS, USA — According to GasBuddy, as millions of Americans hit the road for the Christmas holiday, many will reap the gift of lower gas prices, with nearly 100,000 stations offering gasoline at $2.99 or less. The national average price of gas is projected to be $3.09 on Christmas Day.
Nationally, prices over the holiday weekend will have dropped nearly 80¢ per gallon compared to what they were paying earlier this fall when the national average reached $3.85 per gallon.
Though a $2.99 national average seemed to be on the horizon, the Federal Reserves hints that interest rate cuts could be coming next year, and Houthi attacks on ships in the Red Sea, caused oil prices to rebound in the run-up to the holidays.
While the rise may last a week or two, increases should be fairly mundane, with over half the nation’s states likely to stay close to a $3 per gallon average. Another window of opportunity for lower gas prices could arrive in January or February, as refiners start to liquidate winter gasoline ahead of the transition to summer fuels.
“For the second straight year, we’ve seen the national average stop just short of falling below the $3 per gallon mark, though tens of thousands of gas stations around the U.S. will still have prices at $2.99 or lower,” said Patrick De Haan, head of petroleum analysis at GasBuddy.
One of the states enjoying prices below $3 is Arkansas, as AAA projects an average of $2.69 per gallon across the state, with Jonesboro sitting on top (or perhaps bottom) at $2.63 per gallon.
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