The US fuel rollback hits its lowest this 2023. This is a big deal for those planning to travel via their private cars, especially during this holiday season. The American Automobile Association's latest data revealed that gas prices in the United States have fallen to the cheapest in 2023.
The US-based motorist organization said fuel prices have decreased by 19% since September's peak after continuous declines for the past 12 weeks. Thanks to these price rollbacks, a gallon of gas now costs only $3.14 (as of Tuesday, December 12).
US Fuel Rollback Hits Its Lowest This 2023!
In this photo illustration, a gas pump is filling up a vehicle at a Chevron gas station on December 05, 2022 in Houston, Texas. U.S. gas prices have dropped towards $3 a gallon, with global gas prices having steadily dropped since June.
USA Today reported that gas prices are declining in the US and other parts of the world because fuel production is drastically increasing despite declining demand.
"Historically, crude oil tends to drop nearly 30% from late September into early winter with gasoline prices trailing the play," explained AAA spokesperson Andrew Gross.
"More than half of all US fuel locations have gasoline below $3 per gallon. By the end of the year, the national average may dip that low as well," the AAA official added.
CNBC reported that the average fuel price in the US could be below $3 a gallon in January 2024 if a major calamity doesn't happen in oil markets.
As of writing, experts predict that the downward trend in gasoline prices in the US to continue since there's an expected 7% cut in fuel consumption because of winter.
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Top US States With Lowest Fuel Prices
A nozzle pumps gasoline into a vehicle at a gas station in Los Angeles, California on October 5, 2022. - Saudi Arabia, Russia and other top oil producers agreed on a major cut in production on Wednesday to boost crude prices -- a move denounced by the United States as a concession to Moscow that will further hurt the global economy.
If you are among the Americans who plan on traveling before Christmas and New Year celebrations, here are the top states with the lowest gasoline prices:
- Texas ($2.60)
- Oklahoma ($2.68)
- Mississippi ($2.70)
- Missouri ($2.70)
- Louisiana ($2.71)
- Arkansas ($2.72)
- Kansas ($2.79)
- Alabama ($2.79)
- Tennessee ($2.79)
- Ohio ($2.80)
If you ever visit one of the US states mentioned above, it would be best to fill your car's fuel tank (if you have a spare budget). On the other hand, here are the top US states with the priciest gasoline per gallon:
- California ($4.70)
- Hawaii ($4.70)
- Washington ($4.260)
- Nevada ($4.020)
- Oregon ($3.99)
- Alaska ($3.81)
- Pennsylvania ($3.49)
- New York ($3.47)
- Idaho ($3.43)
- Vermont ($3.41)
Of course, these prices could still change since the downward trend of gasoline costs could change depending on the oil markets.
Related Article: US Gas Prices Rise Again Following Global Oil Companies' Announcement of Production Cut
