Gas prices expected to go up in 2018 - Hometownstations.com-WLIO- Lima, OH News Weather Sports

Gas prices expected to go up in 2018

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The newest gasoline forecast, which is published by GasBuddy, says that the gas average in 2018 will be $2.57, just slightly higher than the average in 2017, which was $2.49. The newest gasoline forecast, which is published by GasBuddy, says that the gas average in 2018 will be $2.57, just slightly higher than the average in 2017, which was $2.49.
Experts also say that the best way to get the best deal for your gas is to shop around and look for the lowest prices between gas stations. Experts also say that the best way to get the best deal for your gas is to shop around and look for the lowest prices between gas stations.

With gas prices staying fairly low throughout the year, motorists were lucky in 2017, but experts say that some of that luck is about to run out as we cross into the new year.

The newest gasoline forecast, which is published by GasBuddy, says that the gas average in 2018 will be $2.57, just slightly higher than the average in 2017, which was $2.49.  While that doesn't seem like a big jump, that money adds up - and with gas prices expected to be higher this spring than the last few years, that means that Americans are going to be spending more money on average.

"Gas prices may get close or breach that three dollar a gallon mark temporarily in the spring, overall motorists are likely to spend a bit over $100 more during the course of the year on fuel than they did in 2017," said Patrick DeHaan, Sr. Petroleum Analyst for GasBuddy.

Those with GasBuddy say that the reason for the higher prices comes from the amount of oil that is being produced.

"OPEC cut oil production and over the course of the last year, and that cut in oil production has led to US oil inventory declining by about 54 million barrels - that’s a pretty sizable amount," said DeHaan.  "That decline in inventory has passed the price of oil to its highest level since the summer of 2015, at about $61 a barrel today."

Experts also say that the best way to get the best deal for your gas is to shop around and look for the lowest prices between gas stations.

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