People also ask
Why are gas prices going up?
Gas prices have been going up amid the rise in crude oil prices. Brent crude oil is back above $80 per barrel, while WTI prices are trading near $76 per barrel price levels. WTI crude oil prices are currently trading at three-year highs and consumers are feeling the pinch in the form of higher gas prices.
Could gas prices fall to $4 a gallon?
Lower prices would help American households battle ongoing inflation. A gallon of gas averaged about $4.47 nationwide on Wednesday, a healthy decline from the all-time high of $5.02 reached on June 14. That easing of pressure at the pump could continue toward $4 a gallon, according to White House energy advisor Amos Hochstein.
How much did gas go up in November 2020?
November U.S. retail gasoline prices were the highest seen since September 2014. At an average of $3.39 per gallon in November, prices at the pump increased by 10 cents per gallon since October and $1.29 per gallon since November 2020.
What will gas prices be like in 2022?
Across the country, Americans may see lower gas prices at the pump in 2022. On Tuesday, the U.S. Energy and Information Administration projected that retail gasoline prices would average $3.13 per gallon in December before falling to $3.01 per gallon in January.