NEW YORK – You’ve probably noticed gas is getting cheaper, but will that trend continue? Gas Buddy doesn’t think so.
The gas price tracking tech company is forecasting prices at the pump will go up next year.
It is predicting the national average will rise to $3.41 cents a gallon, from this year’s average of $3.02.
Gas Buddy believes prices will peak in May at an average of $3.79.
The company is basing its forecast on low oil production from OPEC and refinery closures due to COVID.
It should be noted oil prices are extremely difficult to predict accurately. The federal government and many Wall Street analysts are forecasting they will continue to drop in 2022.
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