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Report says gas prices are expected to surge to over $3 per gallon by May

BOSTON - In a report published Wednesday, GasBuddy said the national gas average could increase to over $3 per gallon as soon as May. 

GasBuddy is predicting the yearly national average of $2.70 per gallon, which shows a 3 cent drop from 2018. 

The national average is expected to rise as much as $1 per gallon from a low in January to the possible peak in May, but "economic jitters could weigh heavily on where gas prices go in 2019," the report said. 

“While the bargain basement gas prices we’ve been seeing in areas across the country have been terrific and most welcomed, the party at the pump will likely wrap up in the next month or two, and prices will begin to rally as OPEC production cuts and a strong U.S. economy push gas prices back up. While the national average failed to hit $3 last year, we have an even stronger possibility of seeing that ugly possibility, which would push prices in some places from $1.99 today to over $3 this spring,” said Patrick DeHaan, head of petroleum analysis at GasBuddy. “Buckle up for the extra volatility we’re going to see- it could be nauseating.”


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