When Should Gas Prices Go Down?
The increasing gas prices in America have continued to trigger some questions among the citizens and residents of the country. Some of the questions people ask often include when should gas prices go down. Why are gas prices going up? And how high will gas prices get in American states like California, Hawaii, Florida, and New York?
We all drive cars and buses. And buying gas is of the things we care about since we cannot drive our cars without it. However, with the rising gas prices in the United States, it is becoming more expensive for car drivers to operate their cars.
I will give you updates on gas prices in America. You will also get answers to other questions related to gas prices. The questions include: When should gas prices go down? Why are gas prices going up in 2023? Among others.
Are gas prices going down in California?
Gas prices in California are fluctuating. There is no guarantee it will go up or come down. The price will depend on the current economic situation in California, the cost of importing gas into California, the global cost of crude oil, and the tax rate on gas in the state.
Currently, residents of California can buy a gallon of gas for $4.88. This makes it one of the states with the highest price of gas in America.
Why are gas prices going up in 2023?
People asking when should gas prices go down also wonder why gas prices are going up. Find the reasons here.
- The global cost of crude oil
- Cut in global production of crude oil
- High cost of importing crude oil into some states
- The tax rate on gas
- The War in Ukraine
When should gas prices go down?
The gas prices in America are expected to down any time in 2023. According to reports, the prices will decrease by -16.7% before the end of 2023. More importantly, it will further go down by -6.1% in 2024. By then, the price of a gallon of gas will be an average of $3.10. Hopefully, this has given you insight into the question, when should gas prices go down?
What are gas prices in America?
The gas prices in the United States depend on the state where you live. States like California, New York, and Florida have a high cost of gas. On the contrary, states like Texas, Oklahoma, and Kansas are among the states with the lowest gas prices in the country. The table below shows the current gas prices in America according to states.
STATE GAS PRICE AVERAGES
|
State
|
Regular
|
Mid-Grade
|
Premium
|
Diesel
|
|---|---|---|---|---|
| Alaska | $3.965 | $4.131 | $4.324 | $4.169 |
| Alabama | $3.116 | $3.490 | $3.863 | $3.665 |
| Arkansas | $3.109 | $3.480 | $3.863 | $3.676 |
| Arizona | $4.418 | $4.741 | $5.017 | $4.390 |
| California | $4.865 | $5.066 | $5.224 | $5.067 |
| Colorado | $3.462 | $3.825 | $4.120 | $3.938 |
| Connecticut | $3.641 | $4.111 | $4.495 | $4.152 |
| District of Columbia | $3.643 | $4.210 | $4.613 | $4.263 |
| Delaware | $3.395 | $3.852 | $4.138 | $3.691 |
| Florida | $3.355 | $3.745 | $4.070 | $3.752 |
| Georgia | $3.277 | $3.657 | $4.035 | $3.787 |
| Hawaii | $4.731 | $4.952 | $5.226 | $5.796 |
| Iowa | $3.353 | $3.648 | $4.111 | $3.667 |
| Idaho | $3.890 | $4.086 | $4.308 | $3.990 |
| Illinois | $3.877 | $4.371 | $4.795 | $3.974 |
| Indiana | $3.476 | $3.964 | $4.408 | $4.029 |
| Kansas | $3.246 | $3.531 | $3.853 | $3.640 |
| Kentucky | $3.325 | $3.777 | $4.163 | $3.803 |
| Louisiana | $3.100 | $3.476 | $3.832 | $3.508 |
| Massachusetts | $3.522 | $4.018 | $4.368 | $4.256 |
| Maryland | $3.440 | $3.951 | $4.222 | $3.811 |
| Maine | $3.549 | $3.936 | $4.342 | $4.256 |
| Michigan | $3.527 | $3.991 | $4.467 | $3.972 |
| Minnesota | $3.467 | $3.771 | $4.159 | $3.852 |
| Missouri | $3.184 | $3.487 | $3.807 | $3.582 |
| Mississippi | $2.962 | $3.326 | $3.685 | $3.525 |
| Montana | $3.639 | $3.923 | $4.184 | $4.120 |
| North Carolina | $3.349 | $3.730 | $4.086 | $3.737 |
| North Dakota | $3.451 | $3.741 | $4.074 | $3.928 |
| Nebraska | $3.322 | $3.559 | $4.016 | $3.665 |
| New Hampshire | $3.463 | $3.885 | $4.294 | $4.171 |
| New Jersey | $3.515 | $4.017 | $4.282 | $3.720 |
| New Mexico | $3.449 | $3.776 | $4.058 | $4.084 |
| Nevada | $4.268 | $4.518 | $4.748 | $4.314 |
| New York | $3.697 | $4.141 | $4.501 | $4.525 |
| Ohio | $3.387 | $3.840 | $4.282 | $3.903 |
| Oklahoma | $3.189 | $3.513 | $3.772 | $3.491 |
| Oregon | $4.277 | $4.483 | $4.693 | $4.420 |
| Pennsylvania | $3.665 | $4.039 | $4.349 | $4.376 |
| Rhode Island | $3.507 | $4.078 | $4.431 | $4.261 |
| South Carolina | $3.187 | $3.569 | $3.926 | $3.622 |
| South Dakota | $3.447 | $3.624 | $4.082 | $3.757 |
| Tennessee | $3.181 | $3.573 | $3.922 | $3.640 |
| Texas | $3.081 | $3.464 | $3.793 | $3.320 |
| Utah | $4.136 | $4.366 | $4.574 | $4.018 |
| Virginia | $3.317 | $3.731 | $4.070 | $3.788 |
| Vermont | $3.564 | $3.967 | $4.407 | $3.952 |
| Washington | $4.710 | $4.890 | $5.093 | $4.915 |
| Wisconsin | $3.442 | $3.887 | $4.310 | $3.666 |
| West Virginia | $3.424 | $3.752 | $4.065 | $3.943 |
| Wyoming | $3.503 | $3.763 | $4.018 | $4.166 |
How long will gas prices stay high?
Apart from asking when should gas prices go down, residents of America, especially drivers, also ask how long gas prices will stay up. The answer to this question depends on factors like the current price of crude oil, the demand and supply chart for crude oil, and the tax rate on gas in the United States of America.
So, you must consider these factors if you want to understand how long gas prices will stay. However, experts believe that they will come down before the end of 2023. Some believe it will even go further down in 2024.
