Are You Ready For $4 Gas Prices This Spring?

Americans could be paying as high as $4 per gallon at the pump this spring due to economic recovery and strong demand before relief arrives in the second half of 2022, according to an outlook from GasBuddy.

Patrick De Haan, GasBuddy head of petroleum analysis, said the national average could peak as high as $4.13 per gallon in June 2022.

“While Americans are likely to see higher prices in 2022, it’s a sign that the economy continues to recover from COVID-19,” De Haan said. “The higher prices go, the stronger the economy is. No one would love to see $4 per gallon gasoline, but we’ll only get there on the back of a very strong economy, so it’s not necessarily bad news.

“There remains higher uncertainty than in a non-COVID year, but all signs point to gas prices remaining elevated in 2022 until the high prices attract additional oil supply, which will help prices cool off as we end 2022,” he explained. 

GasBuddy’s forecast says San Francisco and other California metro areas could see the sharpest price increases at the pump. Prices could reach as much as $5.65 per gallon. – READ MORE