Will Gas Prices Go Down In 2024. Average regular grade retail gasoline prices to increase to $3.70/gal by june 2024 but fall to $3.40/gal by the end of 2024. The national average for a gallon of regular has fallen more than 20 cents since may and is now at $3.38 — about 47 cents lower than this time a year ago.

Gas prices have plummeted about 13% from a 2024 peak in april, which amounts to a decline of nearly 50 cents per gallon, according to aaa data shared with abc news. Average gas prices are down nearly 40 cents over the past 12 months.