For many American motorists, $3-per-gallon gasoline is becoming a distant memory:
Published 12:40 PM EST Jan 1, 2020Americans are likely to pay an average of $2.60 a gallon in 2020, according to fuel savings app GasBuddy's annual forecast.
U.S. oil production spiked 38.6% from 8.84 million barrels a day in 2016 to 12.25 million in 2019 and is likely to rise to 13.18 million in 2020, according to the EIA. Total vehicle miles traveled reached an all-time high in October, the latest period in which statistics were available, according to the U.S. Federal Highway Administration. The 12-month moving average was 3.25 trillion miles in October, up 7.9% since the same point in 2014.20 stocks to buy in 2020:The lack of volatility in gas prices has played a significant role in America's SUV boom.
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