GasBuddy predicts another spike in gasoline prices

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("Gas Pump" by Mike Mozart, CC BY 2.0)

Gas prices are likely going to be bouncing around between slightly below $3 per gallon and $3.19 for the rest of the summer, according to GasBuddy.

“You’ll be lucky if you find it under $2.75 and you probably won’t find it over $3.15, except in a few spots,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “Supply and demand are pretty well-matched. Continued strong COVID recovery could boost global demand, but in the U.S., things may be as good as they get in terms of demand.”

DeHaan predicts that prices will drift slightly lower by July 4, but then they’ll rise later in July.

Prices have been slowly going down, but not at the “plunge we usually see,” said DeHaan. In fact, he predicts that prices will make a “bounce higher” this week.

“That’s because we are approaching that nearly three-week mark since the last hike, so if you’re out there and low on fuel, it might not be a bad idea for you to fill up sometime later this week,” said DeHaan. “I think it would probably be in the front of this week. It could honestly happen today or tomorrow, but if not then, then maybe as late as Thursday.”

DeHaan also offers this advice if you are headed to northwest Indiana.

“The special blend of gasoline there is a bit more costly. Just about everybody in Indiana is under $3 per gallon, with northwest Indiana being the exception. The average there is about 14 cents higher than the rest of the state,” said DeHaan.

A truck driver shortage is also making a small impact.

“It’s affecting the ability of stations to refuel as quickly with more motorists filling their tanks. It’s becoming a problem in areas of the country where tourist attractions are high,” said DeHaan. “Some stations are temporarily running out of fuel, but that’s not making a huge impact on price or demand.”

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