Current gas prices and what to expect for 2022

Published: Jan. 11, 2022 at 1:59 PM CST
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ROCHESTER, Minn. (KTTC) – We are starting off 2022 paying almost $1 per gallon more for gas than we were in 2021. KTTC spoke with GasBuddy to find out what we can expect in the coming months.

Head of Petroleum Analysis for GasBuddy, Patrick Dehaan, is calling 2022 a “bumpy year”. He says for now, fuel will continue to remain at these higher prices because the economy is still trying to recover from the ongoing pandemic.

One way to help indicate whether gas is going to go up or down is by watching the price of oil.

If the price of oil moves up or down significantly and stays there for a period of time, gas is expected to follow shortly after.

According to Dehaan, oil is costly right now because two of the largest oil producers in the world are seeing major unrest within their countries, but we are not at record levels when it comes to oil or gas right now.

“Given where we were in the last five years with prices quite a bit lower, it’s taking some getting used to seeing these higher prices again,” DeHaan said. “Prices will probably start going up in spring and summer, they do that every year, so don’t be shocked when they start going up, I would say sometime in March and that could last until Memorial Day.”

As for falling prices, we might see some the second half of 2022.

When it comes to saving on gas for this year, Dehaan recommends shopping around because a gas station just a little further down the road might be cheaper.

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