NASHVILLE, Tenn. (WKRN) — After a year of pumping out major money for gas, some relief could be in sight as GasBuddy predicts prices to decrease almost $0.50 per gallon in 2023.

With the projected fall, GasBuddy reported the average household would spend $2,471 for the year on gas. That’s $277 less than in 2022.

(Courtesy: GasBuddy)

⏩ Read today’s top stories on wkrn.com

February is anticipated to be the least expensive month of the year, followed by a jump through Memorial Day, with June predicted to be the most expensive month.

(Courtesy: GasBuddy)

Patrick De Haan, head of petroleum analysis at GasBuddy, said he’s hopeful this will not be a record-setting year for gas prices. However, there are many external factors that impact prices, including current events, supply, and production quotas.

“As we move forward, there are predictable outcomes from Russia, potentially the war in Ukraine, things like China’s economy, but there may also be some unexpected and completely surprising things that could alter the future of oil and gasoline prices in the year ahead too,” explained De Haan.

He said being in Tennessee could provide an advantage for motorists.

“The good news is that Nashville tends to average below what we see nationally,” De Haan said. “Tennessee has some of the lower gasoline taxes. The gasoline is also flowing from an abundant region of Texas where there are many refineries, so supply is usually not much of a challenge.”

Cities like Los Angeles and San Francisco could see prices inching toward $7 again this summer if refineries struggle under mandates of unique formulations of gasoline.