DALLAS, TX (WOAY) – You can expect to get some relief at the pump in 2024. Analysts at GasBuddy predict that diesel and gas prices will be lower on average next year compared to 2023.
Nationwide, gas prices will be below three dollars per gallon this winter. The average gas price will peak near four dollars a gallon in major cities, but it could get up to 5-6 dollars per gallon on the West Coast.
“As 2023 fades away, I’m hopeful those $5 and $6 prices for gasoline and diesel will also fade into memory,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “The global refining picture continues to improve, providing more capacity and peace of mind that record-setting prices will stay away from the pump in 2024. I anticipate that we’ll still have some volatility, unexpected outages and disruptions, and potentially weather-related issues, but I do not expect it to lead to record prices. Offsetting OPEC+’s production cuts is contributing to the rise of U.S. oil production, which now stands at record levels. Combined with Canada, North American oil production could further stabilize countries that have decided to curb oil production.”
In West Virginia, gas prices have declined since the beginning of September.
The state-wide average peak this year was $3.69, and prices are not expected to exceed that next year.
The current average price for the state is $2.93, according to GasBuddy.
