Exclusive: $4 gas could return as soon as May, GasBuddy projects

[brooklynite]

CNN

Gas prices will probably be significantly cheaper overall next year. Yet the national average could still climb back above the $4-a-gallon threshold as soon as May, according to GasBuddy projections shared exclusively with CNN.

The good news is that GasBuddy, an app that tracks fuel prices, doesn’t expect a repeat of this year’s wild swings that at one point sent gas prices above $5 a gallon for the first time ever. That spike set off recession alarm bells, worsened inflation and crushed consumer confidence.

The national average for regular gas, a metric closely watched by Wall Street, Main Street and even the White House, is expected to drop to $3.49 a gallon in 2023, down roughly 50 cents from the average this year, according to GasBuddy.

That cooldown could prove significant, translating to families spending an average of $277 less on fuel for the year. If that holds true, total US gasoline spending would drop by about $55 billion, according to the forecast.

[Emile]

1. Nationalize our oil companies

problem solved.

[ck4829]

2. Bingo

[brooklynite]

3. You'd like to lose every election for the next fifty years?

[Emile]

7. How's that?

[brooklynite]

9. Nationalizing an entire industry is about as "Socialist" as you can get.

[Emile]

10. So what! We socialize big oil now!

[ck4829]

16. That's the "good" socialism

[ck4829]

12. Yeah, what is NOT "socialist" these days?

Healthcare - socialist
Caring about people - socialist
Put people before profits - socialist
Sex before marriage - socialist
Not wanting to sacrifice your children for billionaires - socialist

Can we just have the shorter list of NOT-socialist things at this point? Wouldn't it just be simpler to have what's NOT socialist?

[brooklynite]

13. Answer: NONE of those...

SOCIALISM is defined as “The State controlling the means of production. It is NOT defined as “Government spending for social welfare”.

[Emile]

14. Rural electric co-op's are another example of socialism.

[Emile]

15. Rural socialist electric co-op's keep electric rates affordable

by giving co-op members a voice in their electric service, through their not-for-profit structure, and by returning excess revenue to members.

[Ron Green]

4. Hey, this country was built on fear and cheap gasoline,

and we’re not about to change any of that.

[2naSalit]

6. Damn straight!

Sad as it is.

[Buckeyeblue]

5. All this prediction of doom and gloom and the economy keeps doing fairly well

Prices are dropping. I think the current China situation is important to watch. Both the Covid numbers and the political situation. I think US corporations are growing leary of China. There seem to be cracks in the Chinese machine. I think they rushed to back Russia only to find that Russia is a mess.

I also think EVs are about ready to become mainstream. I think keeping gas lower is in the oil businesses best interest.

[ProfessorGAC]

8. I'll Believe It When I See It

If they have evidence of collusion & price fixing they should report it.
I seriously doubt they can accurately predict high gas prices when oil is low other than by wild guess.

[Initech]

11. So that means we'll be paying what? $7 - $8 in California?