Filling up hasn’t been this painless in years (we saw a pump advertising $2.69 a gallon on Venice Boulevard in Culver City!) and it’s not just chump change that people are saving. Gas prices this December are the lowest in five years—and that doesn’t take into account inflation—while a gallon of ‘tane is more than 81 cents cheaper than it was last year (see some of the reasons why here).
For many, including those who commute dozens of miles each day, the price drop has translated into major savings. So, what are Angelenos doing with the extra dough? Saving it, surprisingly, according to a survey from the website GasBuddy, which recently queried 2,000 Angelenos.
A whopping 79 percent said they’re paying off debt or socking the extra money in the bank. A meager 16 percent said they’re spending the savings on holiday presents.
For those hitting the road during the holidays, the cheap gas is indeed translating to more gifts, along with further trips, fancier hotels, and more meals out. Maybe the most useful fact to come out of GasBuddy’s report is the fact that the majority of those driving out of the city for the holidays will do so on Saturday, December 20. So, while things may be congested this weekend, Monday should herald the quiet, serene L.A. we’re all used to during the holidays.