26 January 2023 | Other

GasBuddy: gas prices could reach $4 by April

Get ready for gas prices to rise again in the upcoming spring. According to GasBuddy oil analyst Patrick DeHaan, the cost per gallon of fuel could exceed $4. 

The analyst said now he’s wondering, when exactly the price spike will occur.

One of the reasons, according to De Haan, could be planned refinery shutdowns. Refineries require quite a serious overhaul. That is the reason why the next couple of weeks will be spent on repairs. So it will subsequently lead to a reduction in a gasoline supply.

De Haan also points to the end of quarantine in China as a catalyst for demand growth.

The analyst stated that after the pandemic getting over, the U.S. has seen a significant level of unmet energy demand. The same is true for China. It is likely to determine the further plan for the next 3–6 weeks.

Company MarketCheese
Period: 14.05.2025 Expectation: 1650 pips
Technical and fundamental background supports AUDCAD
07 May 2025 79
Elena_Dorokhina
Elena_Dorokhina

Listed among the best MarketCheese authors
1st in the segment "Currencies"
Period: 08.05.2025 Expectation: 550 pips
EURUSD to drop to 1.13000
07 May 2025 56
Period: 13.05.2025 Expectation: 240 pips
Brent crude price rebound to continue up to 65
07 May 2025 71
Period: 14.05.2025 Expectation: 1000 pips
Buying GBPUSD amid trade talks and weaker dollar with target at 1.344
07 May 2025 35
Period: 12.05.2025 Expectation: 1500 pips
USDJPY rebound fades ahead of Fed meeting
06 May 2025 71
Period: 30.05.2025 Expectation: 975 pips
Natural gas maintains upside potential within megaphone pattern
06 May 2025 76
Go to forecasts