Experts say consumer 'pain at the pump' will get worse before it gets better. One prediction has drivers paying $4 a gallon for gas by Memorial Day.
– Experts are predicting that consumer ‘pain at the pump’ will get worse before it gets better.
That would amplify the inflationary pressures hitting American families grappling with the biggest price spikes in nearly 40 years. And it would add to the White House’s political headaches. “The economy is hot. Demand has come roaring back. But supply is still catching up after getting cut greatly in 2020,” De Haan said.
Tom Kloza, chief oil analyst for the Oil Price Information Service, previously told CNN the Baytown refinery accident could weigh on already-constrained gasoline supply. Kloza said he would not be surprised to see average prices rise to $4 a gallon in much of the country this spring and summer. Although GasBuddy’s prior forecasts were reasonably close to where prices ended up, the company did not see the 2021 surge coming.“Anything could change,” he said. “Tomorrow there could be a ridiculous variant and prices could plummet.”Nonetheless, the specter of $4-a-gallon gas will only intensify the political debate around high gas prices.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gas prices could reach $4 a gallon by by Memorial Day 2022, GasBuddy predictsA new GasBuddy forecast predicts the national average will rise to $3.41 a gallon in 2022, up from $3.02 a gallon this year.
Read more »
$4 gas could be here by Memorial Day, GasBuddy predictsPain at the pump will get worse before it gets better. That's according to a new GasBuddy forecast that predicts the national average will rise to $3.41 a gallon in 2022, up from $3.02 a gallon this year
Read more »
Inside Kanye West’s new $4.5M home right across from Kim KardashianAnd apparently, he wanted the house so desperately that he paid over the seller’s asking price.
Read more »
$4 gas could be here by Memorial Day, GasBuddy predictsPain at the pump will get worse before it gets better. That's according to a new GasBuddy forecast that predicts the national average will rise to $3.41 a gallon in 2022, up from $3.02 a gallon this year
Read more »
Gas prices could reach $4 a gallon by by Memorial Day 2022, GasBuddy predictsA new GasBuddy forecast predicts the national average will rise to $3.41 a gallon in 2022, up from $3.02 a gallon this year.
Read more »