Will Gas Prices Keep Going Up In 2022? Here’s What One Expert Says
For most Americans, gas prices have risen by over a dollar a gallon in less than a year. So what do industry experts think lies ahead for consumers in 2022?
Some analysts go so far as to predict that prices in '22 could rise to the $4 a gallon mark unless the Biden administration makes drastic changes in their energy policies, which are highly unlikely.
One expert, Patrick DeHaan from GasBuddy, tells Louisiana Radio Network that the state of the pandemic will also play a major role. "It’s very difficult to forecast with all these new variants coming and going, he says, "But that’s a potential outcome that we could see the national average get close to that $4 a gallon mark or can exceed it this spring,”.
DeHaan says that if the Omicron variant is less severe than initially thought, oil demand will increase and the per gallon price could rise once again. “And that’s going to mean higher prices here maybe the next week or two," he tells LRN, "For now, though I think we may have a few more days that prices could drift lower before we start to see them head higher."
And when we get deeper in '22 what does DeHaan see? The GasBuddy analyst points out that right now Americans are paying the highest prices in nearly a decade and as summer draws closer and demand increases, look out. DeHaan warns drivers be ready to pay even more, with prices at the pump rising another twenty-five to seventy-five cents a gallon and by Memorial Day, putting the per gallon price in some areas of the USA at $4 a gallon and above.
The current average price for a gallon of regular gas in Louisiana $2.99.