Hotwire Takes a Break for Christmas Holiday
Modern Tire Dealer will publish the next edition of Hotwire on Mon., Dec. 28. The MTD staff wishes readers a happy holiday season and safe travels. AAA reports a record number of holiday travelers will enjoy the lowest gasoline prices since March 2009.
AAA projects the number of year-end holiday travelers will top 100 million for the first time on record. The year-end holiday travel period is defined as Wed., Dec. 23, 2015 to Sun., Jan. 3, 2016.
On Dec. 21, U.S. average gas prices dropped below $2 per gallon for the first time since March 25, 2009, according to AAA. Today’s national average price of gas is $1.998 per gallon. AAA estimates that cheaper gas prices have saved Americans more than $115 billion on gasoline so far this year, which works out to more than $550 per licensed driver.
“Drivers across the country are celebrating the historic return of cheaper gas prices,” says Marshall Doney, AAA’s CEO and president. “The lowest gas prices in nearly seven years are a holiday gift that few consumers could have imagined when gasoline was $4 a gallon.”
Gas prices have dropped because there is more than enough oil and gasoline supplies around the world to meet current demand. In addition, gas prices generally fall through early winter because people drive and use less fuel this time of year.
“We have witnessed a dramatic shift in gas prices that has saved families hundreds of dollars so far this year,” says Doney. “The best news of all is that there is room for prices to drop even more in the coming weeks.”
To track gas prices in your area, visit AAA’s Daily Fuel Gauge Report website, which reports average state and metro prices.