The summer vacation season may still be a few weeks away, but some experts have already said that. Expensive For American drivers, with people who want to fly.
According to the report, the national average price of 1 gallon of regular gasoline rose slightly on Friday to $ 4.15. data From AAA, and its uptrend continue In the next few weeks.As reported by Fox businessPatrick De Haan, Head of Oil Analysis at GasBuddy, has released an outlook on what gas prices will look like during the summer. Doesn’t look pretty..
His estimate is that the national average price of a gallon of gas could fluctuate between $ 4.18 and $ 4.25.More specifically, recently Tweet, He upheld the predictions he made last month. June is $ 4.21, July is $ 4.18, and August is $ 4.23. The average annual gas price is $ 3.99.
Meanwhile, the US Energy Information Administration predict Its gas price will average $ 3.84 per gallon nationwide this summer. Similar feelings were shared by AAA spokesman Andrew Gross. “As long as oil prices are rising, pump prices will have a hard time falling,” he said. statement.. “Consumers may have taken a break from the record highs in March, but don’t expect a dramatic decline.”
Dehan has “high levels of uncertainty” in terms of gas prices in Fox on Thursday, primarily due to the ongoing war in Ukraine, the coronavirus surge, and the consequent blockade of the entire city seen in China. Said.According to energy analyst Helima Croft, “The problem is War period.. ” she said CBS News “We … already had a fairly tight oil market in terms of supply and demand earlier this year. We were optimistic about the recovery from COVID and people were driving and working. “
Soaring gas prices, etc. Inflationary pressureTravelers seem to be forced to rethink their plans for summer vacation.according to Online voting Nearly 70% of adults who said they would take a vacation this summer, conducted by Bankrate.com Change your travel plans due to high inflation. Major changes include reducing the number of trips and reducing the distance traveled.
Nonetheless, research has shown that the stagnation in demand due to the pandemic is likely to outweigh the price hike this summer. “After years of working together for COVID, people are ready to return there this summer, even if it means paying higher prices, reducing savings or borrowing. Even as ”Ted Rothman Analyst, Bankrate’s senior industry, statement..
Ethen Kim Lieser is a Washington-based financial and technical editor with posts on Google, The Korea Herald, Lincoln Journal Star, AsianWeek, and ArirangTV.Follow or contact him LinkedIn..