Experts: Gas Prices To Exceed $4 A Gallon Next Year

Hope you enjoyed those low gas prices for the holidays.

Despite gas prices decreasing in recent weeks, many drivers can expect to pay $4 per gallon for gas come summertime, according to new projections.

Boston-based tech company GasBuddy shared its early projections with CNN Tuesday. While the company does not anticipate a repeat of 2022, which saw gas prices reach historic highs of more than $5 per gallon, high prices are still expected to return.

“2023 is not going to be a cakewalk for motorists. It could be expensive,” head of petroleum analysis for GasBuddy, Patrick De Haan, told CNN. “The national average could breach $4 a gallon as early as May – and that’s something that could last through much of the summer driving season.”

Like the saying goes: All good things must come to an end. There are a variety of factors that can influence the price. Chief among them will, most likely be, China’s re-opening after their COVID-19 lockdowns and that will outdo any effect the conflict in Ukraine is having.

No doubt when gas prices start going up, Biden will try to make the case, not only for renewables, but for people to buy electric cars.

PHOTO CREDIT: Pixabay