Falling Gas Price Trend Likely Bottomed, Drivers Should Brace for Pain at the Pump: Experts

The falling trend in retail gasoline prices has likely hit bottom and drivers should expect a fresh run of higher prices before seeing relief at the pump again, according to several industry experts, with one predicting a peak as high as $4 per gallon by spring.

National average retail gasoline prices have been in a downward trend since peaking at $3.505 for the week ending Nov. 8, according to the Energy Information Administration (EIA). The week ending Dec. 27 saw the national average fall to $3.375 per gallon, with the agency predicting in early December that prices would drop to $3.01 per gallon in January and average $2.88 per gallon in 2022.

But GasBuddy head petroleum analyst Patrick De Haan believes the falling trend has reversed.