If you’ve driven around Hampton Roads or North Carolina lately, you may have noticed gas was a little cheaper. Thanks to supplies being replenished after a supply shortage and refiners switching to cheaper winter fuels, gas will soon be at their lowest levels of the year.
However, Americans will spend a record amount on gas for the second year in a row. Over 93 million people will travel at least 50 miles between December 22nd and January 1st. Gas consumption is expected to reach 8.7 million barrels per day this year, the lowest level since 2001.
Experts predict gas prices next year will stay below $4 per gallon, at $3.43, the lowest price since 2010.