• Latest
  • Trending
  • All
  • News
  • Business
  • Lifestyle
Report: Gas Prices Could Hit $4 a Gallon in 2022

Report: Gas Prices Could Hit $4 a Gallon in 2022

December 28, 2021
Judge Continues Block On Defunding Planned Parenthood

Judge Continues Block On Defunding Planned Parenthood

July 11, 2025
President Of ICE-Raided Pot Farm Doled Out Thousands In Donations To Newsom, Dems

President Of ICE-Raided Pot Farm Doled Out Thousands In Donations To Newsom, Dems

July 11, 2025
Tariffs Help US Government Post Unexpected June Surplus

Tariffs Help US Government Post Unexpected June Surplus

July 11, 2025
STEVE MILLOY: Climate Activists Wipe Out While Surfing The Tragic Texas Flooding

STEVE MILLOY: Climate Activists Wipe Out While Surfing The Tragic Texas Flooding

July 11, 2025
Iranian Group Reportedly Offers $40 Million Bounty On Trump For ‘Cause Of Allah’

Iranian Group Reportedly Offers $40 Million Bounty On Trump For ‘Cause Of Allah’

July 11, 2025
Organizers Cancel Event After Threats Pile On Against Award-Winning Cartoonist For Offensive Texas Flood Post

Organizers Cancel Event After Threats Pile On Against Award-Winning Cartoonist For Offensive Texas Flood Post

July 11, 2025
California US Attorney Eviscerates ‘Unserious’ Gavin Newsom For Railing Against ICE’s Raid On Marijuana Farm

California US Attorney Eviscerates ‘Unserious’ Gavin Newsom For Railing Against ICE’s Raid On Marijuana Farm

July 11, 2025
Boston Health Commission Employee Arrested In Connection To Fatal Shooting

Boston Health Commission Employee Arrested In Connection To Fatal Shooting

July 11, 2025
New Mine Inches America Closer To Unshackling Itself From China

New Mine Inches America Closer To Unshackling Itself From China

July 11, 2025
‘I’m Not Built For This’: George Santos Tells Tucker Carlson He Might Not ‘Survive’ Prison

‘I’m Not Built For This’: George Santos Tells Tucker Carlson He Might Not ‘Survive’ Prison

July 11, 2025
ICE Rescues Children At Marijuana Farm – LA Mayor Responds With Sanctuary Order

ICE Rescues Children At Marijuana Farm – LA Mayor Responds With Sanctuary Order

July 11, 2025
Clinton for Prison? Ex-DNI Ratcliffe Says 'Enough Evidence' to Indict 'Multiple People' – Report

Facebook Smacks Hillary Clinton With Community Note Over Abortion Claim

July 11, 2025
  • Donald Trump
  • State of the Union
  • Elon Musk
  • Tariffs
  • Congress
  • Faith
  • Immigration
Saturday, July 12, 2025
  • Login
IJR
  • Politics
  • US News
  • Commentary
  • World News
  • Faith
  • Latest Polls
No Result
View All Result
IJR
No Result
View All Result
Home News

Report: Gas Prices Could Hit $4 a Gallon in 2022

by Bradley Cortright
December 28, 2021 at 9:41 am
in News
250 2
0
Report: Gas Prices Could Hit $4 a Gallon in 2022

(Michael Godek/Getty Images)

491
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter

While gas prices have declined in recent weeks, GasBuddy is forecasting that prices at the pump nationally could increase in 2022 and possibly top $4 a gallon.

According to a GasBuddy forecast shared exclusively with CNN, the national monthly average price for a gallon of gas will hit $3.71 in May 2022 and then start to decline later in the year.

However, Patrick De Haan, head of petroleum analysis at GasBuddy, said it is possible prices could hit at least $4 a gallon.

“We could see a national average that flirts with, or in a worst-case scenario, potentially exceeds $4 a gallon,” he said.

As CNN notes, “That would amplify the inflationary pressures hitting American families grappling with the biggest price spikes in nearly 40 years. And it would add to the White House’s political headaches.”

According to AAA, the average price for a gallon of gas nationally is $3.28, down from $3.39 a month ago.

While the U.S. Energy Information Administration predicts that the average price of gas will fall below $3 a gallon in 20202, De Haan told CNN he believes high demand will keep prices elevated.

“The economy is hot. Demand has come roaring back. But supply is still catching up after getting cut greatly in 2020,” he explained.

As the coronavirus spreads around the world, OPEC and U.S. oil companies cut their production and have yet to reach pre-pandemic levels of output. Additionally, CNN notes several refineries in the U.S. were closed during the pandemic.

Earlier this month, President Joe Biden touted declines in gas prices which he said was a sign of “progress.”

“We’re gonna keep at it to ensure the American people are paying their fair share for gas, not being gouged for gas,” he vowed.

As gas prices hit a seven-year high, Biden announced the decision to release 50 million barrels of oil from the Strategic Oil Reserve “to lower prices for Americans and address the mismatch between demand exiting the pandemic and supply.”

The president also asked the Federal Trade Commission to investigate whether “illegal conduct is costing families at the pump.”

Tags: Joe BidenU.S. News
Share196Tweet123
Bradley Cortright

Bradley Cortright

IJR, Senior Writer He's written for Independent Journal Review since 2019.

Advertisements

Top Stories June 10th
Top Stories June 7th
Top Stories June 6th
Top Stories June 3rd
Top Stories May 30th
Top Stories May 29th
Top Stories May 24th
Top Stories May 23rd
Top Stories May 21st
Top Stories May 17th

Join Over 6M Subscribers

We’re organizing an online community to elevate trusted voices on all sides so that you can be fully informed.





IJR

    Copyright © 2024 IJR

Trusted Voices On All Sides

  • About Us
  • GDPR Privacy Policy
  • Terms of Service
  • Editorial Standards & Corrections Policy
  • Subscribe to IJR

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Politics
  • US News
  • Commentary
  • World News
  • Faith
  • Latest Polls

    Copyright © 2024 IJR

Top Stories June 10th Top Stories June 7th Top Stories June 6th Top Stories June 3rd Top Stories May 30th Top Stories May 29th Top Stories May 24th Top Stories May 23rd Top Stories May 21st Top Stories May 17th