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Tags: gas | prices | holiday

Gas Prices Expected to Continue to Rise

Gas Prices Expected to Continue to Rise
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By    |   Tuesday, 29 June 2021 06:07 PM

Gas prices rose Monday to an average of $3.10 per gallon Monday and are expected to continue climbing as the holiday weekend approaches, according to a gas analyst who spoke with Fox News.

The national average is almost 5 cents higher than it was a month ago and 92 cents higher than this time last year.

"Traditionally we see gas prices start declining in mid-to-late August as we start to see things [going] back to normal, kids going back to school, vacations basically ending," GasBuddy petroleum analyst Patrick De Haan said. "This year, though, I think the concern is that…the normal seasonal down-turning could be mitigated by the fact that offices are starting to see returns by fall and so commutes could start to increase."

"That really brings to question," De Haan continued. "Will we see a seasonal decline in autumn, and when will it be?"

De Haan said a decline in prices is still likely to occur, though it might be "muted" by a surge in drivers heading back into a physical work location as the coronavirus pandemic eases up.

This month, the Energy Information Administration predicted gasoline would average $2.92 a gallon for the April-September summer driving season, up from $2.07 a gallon for the same period last year. For the full year, the EIA estimates regular gasoline will average $2.77 a gallon and U.S. households will spend $570 more on fuel than they did a year ago.

Gas outages are hitting some locations, though De Haan said it shouldn’t be a cause for widespread concern.

"So far, the problem is very limited and random in nature," De Haan told ABC News.

"Most motorists won't even notice this, but as demand ramps up the nation needs hundreds more tanker truck drivers just from last year, in addition to the long-term squeeze we've seen," he added.

Information from the Associated Press was used in this report.

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Gas prices rose Monday to an average of $3.10 per gallon Monday and are expected to continue climbing as the holiday weekend approaches...
gas, prices, holiday
317
2021-07-29
Tuesday, 29 June 2021 06:07 PM
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