Wednesday, January 25, 2023

GasBuddy Analyst: Gasoline Price To Hit $4.00 By April, Maybe Sooner

Release the Strategic Petroleum Reserve! 

Oh wait, it's not an election year.

From Yahoo Finance, January 25:

Get ready for gas prices to rise again going into spring. A gallon of driving fuel could go back above $4, according to GasBuddy petroleum analyst Patrick De Haan.

"It's a question of when, not if. I think something like that could happen by potentially April, maybe sooner," said De Haan.

"I think motorists are going to start getting squeezed more so in late February. The next three weeks could be a bit of a mixed bag," he said.

De Haan points to planned breaks in production at refineries as part of the reason for a rise in prices.

"We have a pretty heavy amount of refinery turnarounds that is going to start here in the next couple of weeks. That is going to lead to a diminished amount of gasoline supply," he said....

....MORE, including video:

RBOB gasoline futures are already up 30% since December:

Gasoline RBOB Chart Daily