Industry Experts Predict Gas Prices Will Surge in Early 2022 Before Dropping Off

Headline Roundup December 29th, 2021

After hitting a 7-year high earlier in 2021, experts think the cost of gasoline will continue to rise in early 2022.

According to data from GasBuddy provided to CNN (Left bias), analysts expect the price of a gallon of gas in the U.S. to hit "a monthly average of $3.79 in May, before finally retreating below current levels by late 2022." The prediction comes as Americans deal with the highest levels of inflation in nearly 40 years. National average retail gasoline prices have trended downward since peaking at $3.51 for the week ending Nov. 8. The national average price of a gallon is $3.28 as of Wednesday, according to AAA. That average was $2.25 at this time last year. GasBuddy analyst Patrick de Haan said Monday on Twitter that "it's becoming more clear that our month-long run with falling #gasprices is likely coming to an end."

Right-rated sources reported the prediction more prominently than left- and center-rated outlets. Coverage from some left-rated sources focused more on the expectation that prices will drop again later in 2022. 

From the Center
340

Analysts expect U.S. gasoline prices to rise in 2020, saying they could reach around $4 per gallon in late spring, presenting a major political problem for President Biden.

Tom Kloza, global head of energy analysis at the Oil Price Information Service, told The Hill that there’s a “good chance” prices will be “close" to 2008 highs, when prices were above $4 per gallon.

“Notwithstanding another variant…we’re going to see excessively high prices in 2022,” said Kloza. “It’s going to run up, I’d say, between Presidents’ Day and Cinco de Mayo.”

He attributed the potential increase to...

Read full story
From the Left
340

A new forecast from price tracking app GasBuddy predicts "pain at the pump will get worse before it gets better," CNN reports. This latest prediction estimates the national average gas price will peak, CNN writes, at "a monthly average of $3.79 in May, before finally retreating below current levels by late 2022."

"We could see a national average that flirts with, or in a worst-case scenario, potentially exceeds $4 a gallon," Patrick De Haan, head of petroleum analysis at GasBuddy, told CNN. According to AAA, the current national average gas price dropped to $3.29 a gallon on...

Read full story
From the Right
340

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...

Read full story
Some content from this outlet may be limited or behind a paywall.