class="post-template-default single single-post postid-430571 single-format-standard custom-background group-blog header-image full-width singular wpb-js-composer js-comp-ver-6.2.0 vc_responsive"

2020 Gas prices outlook

2020 Gas prices outlook
Karin Lau/istock/thinkstock
GasBuddy, the smartphone app helping consumers avoid paying full price for fuel, projects 2020 will feature a yearly national average of $2.60 per gallon.
That would represent  a 2 cent drop versus 2019, but warns that the national average will rise as much as 75 cents per gallon from a low in February until an eventual peak in May, leading to localized gas price hotspots that could lead unsuspecting motorists to pay as much as 15-50 cents more per gallon than competitors.
The nation’s yearly gasoline bill will rise to $373 billion dollars, an increase of over $1 billion from last year as the average household sees their annual gasoline spending rise to $1,935.
The national average is forecast to rise as much as 75 cents per gallon from a low in early February to a possible peak in May, as the seasonal switch to summer gasoline leads to notable jumps and causes some stations to raise prices much quicker than others,  leading to buying opportunities for motorists who compare prices.
© 2020 Nebraska Rural Radio Association. All rights reserved. Republishing, rebroadcasting, rewriting, redistributing prohibited. Copyright Information