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Lower gas prices predicted in 2024

The Yellow Springs Speedway
Chris Welter
The Yellow Springs Speedway

The national average price of gas is expected to go down in 2024 for the second straight year. That’s according to Gasbuddy, a platform that tracks gasoline prices around the country, including Ohio.

Gasbuddy says that Americans will spend about 13 cents less this year compared to what they spent at the pump in 2023.

Patrick De Haan is the head of petroleum analysis at GasBuddy.

He said there will be moderate improvement to gasoline prices, even with seasonal fluctuations.

"We're anticipating lower gasoline and diesel prices in the year ahead, largely as we expect the situation between Russia and Ukraine to fade to the rearview," said De Haan. "That should keep the price of oil in check, as well as record U.S. oil production.”

De Haan also said that though Ohio tends to have lower prices than the national average, the state will likely see rising prices in the spring.

GasBuddy recently surveyed about 400 stations in the Dayton area.

In Dayton, average gasoline prices have fallen nearly 15 cents per gallon in the past week. Prices are 4.9 cents per gallon lower than a month ago, which is 12 cents lower than a year ago.

Ngozi Cole is the Business and Economics Reporter for WYSO. She graduated with honors from Columbia University’s Graduate School of Journalism in New York and is a 2022 Pulitzer Center Post-Graduate Reporting Fellow. Ngozi is from Freetown, Sierra Leone.