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Summer gas price outlook isn’t pretty and that’s putting it mildly

Gas prices are on the rise again ahead of Memorial Day.
Gas prices are on the rise again ahead of Memorial Day.(WTOC)
Published: May. 19, 2022 at 3:02 PM EDT|Updated: May. 19, 2022 at 3:31 PM EDT
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CLEVELAND, Ohio (WOIO) -The gas price tracking website GasBuddy has put out its summer forecast and it will not make the average driver happy.

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“Prices are through the roof,” GasBuddy petroleum analyst Partic De Haan said. “It’s going to be a pricey Memorial Day.”

GasBuddy’s annual survey, released today showed that even with record high gas prices 58% of Americans said they would be taking some sort of road trip this summer, and that’s higher than last year when prices were $1.50 less than where they are now.

“Against a backdrop of gas prices that have continued to set new records ahead of Memorial Day, Americans have been resilient in their desire to hit the road, but we’re certainly seeing increased hesitancy due to rising prices at the pump,” De Haan said.

According to the GasBuddy press release, “Gas prices on Memorial Day weekend are forecast to be about $4.65 per gallon, a 51% increase from last year. GasBuddy expects the average price from Memorial Day to Labor Day to be $4.40 per gallon nationally, though significant events could raise or lower the outcome.”

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