Drivers can expect to spend more at the pump this year. Gas prices are expected to increase by 19 cents this year. Experts are predicting that the gas prices will rise to $2.57 in 2018. This is the highest that the gas prices have been since 2014.
The average household will spend $1,898 on gas in 2018. This is $130 more than they did last year. The national gas bill is expected to increase to $364.4 billion. This is $25 billion higher than last year. According to Gas Buddy, gas prices will not break a record. They do not think that the gas prices will go above $3.
Patrick DeHaan is the head of petroleum analysis at Gas Buddy. He stated that OPEC has been cutting oil production. This has lead to the increase in gas prices. He also stated that they believe that gas prices will stay below $3, but changes in oil production can change that. GasBuddy’s predictions have been pretty accurate in recent years.
Patrick stated that even though gas prices are affordable for most families, it is important to remember that the cost of gas can vary from station to station. He also said that it is a shame that the gas prices can vary by 20 to 40 cents from station to station. He recommends that people shop around before they purchase gas.
Families spend thousands of dollars per year at the pump. Spending a dime or quarter less at the gas station may not seem like much. However, this can help you save hundreds of dollars per year.
There are also things that you can do in order to conserve gas. Getting regular car maintenance, driving the speed limit and using your air conditioner instead of letting the window down will help you save money.