Next year, gas prices are likely to be much lower overall. However, according to forecasts from GasBuddy provided exclusively to CNN, the national average may still surpass the $4 per gallon mark as early as May.
The good news is that the gasoline price tracking app GasBuddy doesn't anticipate a recurrence of this year's wild fluctuations, which at one point brought petrol prices above $5 per gallon for the first time ever. That increase increased inflation, stoked recession fears, and destroyed consumer confidence.
According to GasBuddy, the national average for regular gas, which is constantly monitored by Wall Street, Main Street, and even the White House, is predicted to fall to $3.49 per gallon in 2023, or about 50 cents less than the average this year.
"2023 won't be a stroll in the park for drivers. According to Patrick De Haan, head of petroleum analysis at GasBuddy, it might be pricey. The national average might go below $4 per gallon as early as May, and that situation might last for a significant portion of the summer driving season.
As Americans travel more during the warmer months, gas costs often increase as summer approaches. In addition to the increase in demand, refineries transition to summer-grade gasoline, which is more expensive to manufacture and intended to enhance air quality.
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