WASHINGTON – Car shoppers who are factoring pump prices into their buying decision received some key information on Monday from AAA.
“Average U.S. prices should continue to decline and could drop below $2 per gallon by Christmas for the first time since 2009,” AAA said in a statement.
The average price for a gallon of unleaded gasoline stood at $2.16 on Tuesday, according to AAA.
Low gas prices are coinciding with lots of Black Friday sales by brands including Chevrolet, Dodge, GMC and Nissan.
As previously reported by Edmunds, sales of trucks and SUVs were strong in October, fueled by significant discounts on many models and low gas prices.
The 2015-’16 Ford Edge, Cadillac Escalade and Jeep Patriot SUVs were among the favorites of car shoppers, according to the October sales report.
Shoppers also snapped up the 2015-‘16 Chevrolet Silverado and Colorado pickup trucks, 2016 Honda Pilot and 2015-‘16 Nissan Rogue SUV.
The U.S. Energy Information Administration expects monthly gasoline prices to decline to an average of $2.06 a gallon in December.
U.S. regular gasoline retail prices are expected to average $2.33 a gallon in 2016, said the EIA in its short-term outlook.
Edmunds says: Gas prices are hitting the sweet spot for many shoppers considering a truck or SUV purchase.