Christmas Comes Early: Falling Gas Prices

With the holiday travel season right around the corner, Americans across the country are rejoicing about the falling gas prices.  Gas prices have continued to fall for seven successive weeks.  According to the American Automobile Association (AAA) the average price of gas in the United States is now down to roughly $3.19 a gallon, which is the lowest gas prices have been in two years.  Residents in states like Texas, Missouri, and Oklahoma are already paying less than $3.00 a gallon. In New Jersey the average gas price is well below the national average at $3.07 a gallon.  With gasoline prices at all time lows, people will soon be flocking to new and used car dealers in NJ to pick up new vehicles to drive home in for the holidays.

Gas prices tend to be lower in the colder months because demand is typically down.  Once temperatures begin to drop, people begin travelling less.  When the sun is out and temperatures are comfortable, people enjoy jumping in their cars and traveling to places to get out and take in some fresh air.  This is also the time of year when families across the country take their vehicles to travel for vacation.  When more gas is being consumed, demand is up and gas prices rise.  As temperatures approach freezing in the late fall and winter months, people tend to partake in activities that keep them inside the warmth of their homes.  As a result of this, gas prices drop slightly because there is less of a demand.

Falling Gas Prices Image courtesy of Captain Jim Wood (CC BY S.A. 2.0)

Another reason that gas prices tend to drop a bit in the cooler months is because the Environmental Protective Agency allows for winter blends to be sold at the pump.  During the summer months the Environmental Protective Agency doesn't allow cheaper blends of gas to help keep smog more manageable.  Winter blends of gas are less expensive and these savings are passed on to drivers.  Winter blends of gas are usually available in the middle of September.  These factors, in addition to it appearing that the United States will not be intervening in the Syria crisis, is what is helping the falling gas prices.

Industry insiders are predicting that we will continue to see falling gas prices all the way into mid-December and possibly into the New Year.  This means that New Jersey residents might be seeing gas prices with the number two in front of the decimal point.  With this news, it is certain that people will be continuing to rejoice at the gas pump for months to come. As the holidays approach, gas prices are low and continuing to drop, many people are looking forward to spending the extra money on Christmas and Hanukkah gifts.  With all these gas savings, it would be no surprise if teenagers across the country find that their parents visited used car dealers in NJ to purchase them a very special holiday gift.  With gas prices where they currently are, people are now able to travel 23 miles per gallon whereas before they were only able to travel 20 miles per gallon.  Knowing this, some might spend the extra savings travelling to distant family members’ homes for the holidays that they normally wouldn't.

Get the most out of your holiday season with falling gas prices.

 

About the Author: Jesse Dugan is a SEO Developer and lives in Philadelphia, PA. To learn more, follow him on Twitter.

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