Will Gas Prices Go Down In 2024 In Usa. Gasoline prices are determined by crude oil prices, refinery production costs, distribution and marketing. Morgan estimated that a strike that shuts down east and gulf coast ports could cost the economy $3.8 billion to $4.5 billion per day, with some of that recovered.
Gasoline prices are expected to average around $3.40 a gallon in 2024 and $3.20 in 2025, compared with around $3.50 in 2023, according to the eia’s short. Gasoline prices are determined by crude oil prices, refinery production costs, distribution and marketing.