Be prepared to pay more for gas this year.
GasBuddy's 2017 Fuel Price Outlook is calling for the national yearly average to rise to $2.49 per gallon. If that prediction holds, Americans will spend $52 billion more on gas this year compared to 2016.
GasBuddy senior petroleum analyst Patrick DeHaan says, "The list of factors being mixed into the yearly forecast has never been larger."
Prices are expected to spike in early spring when suppliers switch to "summer blend" gasoline. GasBuddy predicts prices will rise between 35-60 cents from mid-February, reaching a peak in May.
Gas prices may hit $3 in several of the nation's largest cities, including Los Angeles, New York, Chicago, Washington D.C. and Seattle. There's a strong possibility other big cities will eclipse the $3 mark as well.
With so many unknowns, DeHaan adds, "Forecasting fuel prices remains a challenging balance of science and art."
Other variables that could impact prices at the pump include federal and/or state tax changes, volatility in the Middle East, refinery maintenance or unscheduled outages and weather events.
Be prepared to pay more for gas this year.
GasBuddy's 2017 Fuel Price Outlook is calling for the national yearly average to rise to $2.49 per gallon. If that prediction holds, Americans will spend $52 billion more on gas this year compared to 2016.
Prices are expected to spike in early spring when suppliers switch to "summer blend" gasoline. GasBuddy predicts prices will rise between 35-60 cents from mid-February, reaching a peak in May.
Gas prices may hit $3 in several of the nation's largest cities, including Los Angeles, New York, Chicago, Washington D.C. and Seattle. There's a strong possibility other big cities will eclipse the $3 mark as well.
GasBuddy senior petroleum analyst Patrick DeHaan says, "The list of factors being mixed into the yearly forecast has never been larger."
With so many unknowns, DeHaan adds, "Forecasting fuel prices remains a challenging balance of science and art."
Other variables that could impact prices at the pump include federal and/or state tax changes, volatility in the Middle East, refinery maintenance or unscheduled outages and weather events.