Gasoline prices in most of America will surge to $3 a gallon by May before easing in the rest of the year, according to a 2019 fuel price forecast released Wednesday by the price-tracking web service GasBuddy.com
Prices at the pump today are at a nearly two-year low and should help keep the average price of gas for all of 2019 about 3 cents cheaper than last year. Gasbuddy.com estimates the typical U.S. motorist should save about $25 in fuel costs this year compared with last year.
The nation’s yearly gasoline bill is projected to fall to $386 billion dollars, a drop of $2.5 billion over last year as the average household sees their annual gasoline spending fall slightly to $1,991.
Fuel prices are likely to be lowest for all of 2019 this month and peak this spring 62 cents above the January average price. About two thirds of those gains should be regained by the end of 2019, according to the GasBuddy.com forecast.
Gas prices have fallen an average of 70 cents per gallon in the past three months with Chattanooga continuing to have the lowest average price for gas among Tennessee’s major cities.