U.S. Gas Prices Expected To Be The Highest Since 2014

Crossovers and trucks continue to be popular with consumers but owners could be looking at a higher cost of ownership as GasBuddy is predicating the national average price of gasoline will rise 19 cents this year to $2.57 per gallon.

While that’s far from record highs, the 2018 Fuel Price Outlook suggests prices could peak at less than $3 per gallon. Prices in major metro areas – such as Chicago, New York City, Los Angeles, and Seattle – are expected to easily surpass the $3 mark while other areas including Detroit, Miami, and Minneapolis are expected to come extremely close to that figure.

If GasBuddy’s forecast pans out, the average household will see their gasoline bill rise to $1,898 this year which is $133 more than 2017. This means the nation’s yearly gasoline bill will climb to $364.6 billion which is about $25 billion more than last year.

On the diesel side, the company expects the average price to be $2.70 per gallon. Prices are expected to peak this month and gradually fall to a low of $2.59 in July before climbing again.

Gas prices are extremely hard to predict but the pain at the pump is already being felt as AAA reports the national average gas price is $2.49 which is the highest for the start of the year since 2014.

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  • Adilos Nave

    Guarantee the first people complaining about high gas prices will be the ones driving around in brand-new black Escalades.

    • Bo Hanan

      Why do they have to be black?

      • Adilos Nave

        Just seems like the most popular color. They definitely look pretty good in black. Helps hide how huge they actually are.

        • Bo Hanan

          Uh huh… (smile) LOL.

        • G82FS

          Those things look idiotic. Coming up behind one at night I always think it is a bus at first.

          • dumblikeyou2

            Oh then you need to get out more.

          • G82FS

            So if I get out more they will no longer look like a bus? Sure…

          • dumblikeyou2

            So as long as we’re both in agreement.

          • G82FS

            Sure…

    • karmat

      Yep here we go again wa wa wa

  • europeon

    Cool. Meanwhile in Europe we pay about $7 per gallon.

    • brn

      Europe is varied, so I’m going to choose UK as an example.

      Per petrolprices.com, UK prices average £1.20 per liter.
      That comes to £4.52 per US (not European) gallon.
      £2.20 of that is for taxes (health care).
      Now lets convert £2.32 to US dollar and we get US $3.13 for High Octane US equivalent gasoline.

      High Octane gas around me is $3.00. $0.45 of that is tax, bringing it to $2.55 for high octane gasoline.

      So, yes you do pay more, but it’s $3.13 vs $2.55. There are times we actually pay more.

      • europeon

        What are you on? The price you pay at the gas pump is about $7 per gallon.

        1 US gallon is 3.785 liters.
        1 liter of gas, averaged 95 and 98/100, and across all Europe is about 1.7-1.8 EURO ($2.15)

        I don’t really understand why you subtracted that random sum and labeled it health care. It has nothing to do with health care, and you don’t get it deducted or anything, same goes for the VAT (which you forgot). Almost everyone in the EU pays health care as a separate tax, percentage of their income. The gas tax goes to infrastructure development, maintenance and environmental stuff.
        Yes, taxes make up to 90% of the fuel price in Europe, but you still have to pay the full sum at the pump.

        Your comment is beyond stupid, it makes absolutely no sense.

        • brn

          When you pay for gas, you’re buying more than gas. You’re buying government services. I deducted the amount you pay for government services and the amount we pay for government services. Once you’ve done that, the prices are pretty close.

          My math may be only as good as five minutes of Googling from this side of the pond will allow. My apologies for mislabing what some of the tax pays for. Feel free to do your own math. The point is pretty much the same.

          Fewer insults would be nice too.

          • europeon

            I am not going to call your post genius if it’s stupid – which it is.
            You have fuel tax in the US as well, both federal and state tax, and it’s a hefty percentage too.
            Do your research, do your math, preferably when you are sober, and come back with a post that is not stupid. I know you’re not stupid, we had some good, intelligent talks in the past, but this time you really scrwed it up.

          • brn

            You do not appear to be willing to understand what I said. That and your repeated insults, poorly represents you. I hope things get better for you.

          • europeon

            Nonsense is very hard to understand for me.
            Also, stupid used as an adjective is not an insult, but… whatever.

    • Frank Yoster

      in canada we pay 5.10 a gallon..mericans these days..smh

      • brn

        Frank, see my post above. I’ll randomly choose Alberta and I’ll also shortcut the math Per gasbuddy.com, prices in Alberta are $(CA)4.10 per US gallon or $(US)3.27 per US gallon. $(US)1.09 of that is tax.

        Alberta pays $(US)2.18 for the actual gas, which is nearly identical to the US for similar gasoline.

        ..anadians these days.

        • Frank Yoster

          in cali it 2.55$ thats cheap

          • brn

            I replied, but then realized your cali may not be what I was thinking of, so my reply may have been meaningless. 🙂

          • Frank Yoster

            im sorry yo:((

    • brn

      Post removed, because the comment system went goofy.

  • Frank Yoster

    if it aint higher then 4$ a gallon…gtfoh..

    • MarketAndChurch

      Right? 4 is when people begin to panic and there’s not really a scenario where that would become a reality.

      • Holmer_k

        The infrastructure bill will soon be taken up in congress, so it is possible. The money will have to come from somewhere and raising the tax on gas is an easy way to generate money without really burdening the wealthy this congress is so bent on helping. Don’t count it out.

        • MarketAndChurch

          It’s also an easy way to slow down a growing economy and I don’t think the authors of that bill will want that either. I hope you’re wrong, 4 dollar a gallon caused by government spending will be political suicide and essentially a tax that the well off will tolerate but one the poor won’t be able to afford.

          • Holmer_k

            The gop know they have already commited political suicide. I hope I’m wrong too for the sake of those less fortunate, but, their only other real option is to sell off the infrastructure to corporations. That would also be political suicide and hurt us all even more. Just imagine if every interstate and bridge required a toll.

    • dumblikeyou2

      ysla: you sure love acronyms

  • LWOAP

    I hope so. We can finally start getting rid of all these damn SUVs. I still like them, depending on make and model, but there are way too many.

  • smartacus

    Reading the tea leaves;
    FIAT could make a
    business case for
    bringing over an
    econo-car like
    their Cronos
    with the 1.3
    :p

  • Enter Ranting

    I wonder if Drumpf will take credit for this, they way he’s taking credit for the improved economy.

    • Research Janitor

      Highest debt ever, more people on food stamps in the history of the country, lowest labor participation since the 40’s, not one month of 3% growth – yes, things are going well now because of Obama.

      • Enter Ranting

        Boy, to hear Drumpf tell it, our economy us doing better than anyone has ever seen, all thanks to him. But her emails, right?

  • Infinite1

    I wonder how long until the Cheeto-in-Command brags about how great our economy is with the “lowest gas prices for a long long time”…

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