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Wednesday, February 1, 2023

Gas prices should keep falling if we can avoid the ‘perfect storm’: GasBuddy analyst

GasBuddy head of petroleum analysis says oil and gas remain in tight supply and a hurricane could suddenly cause prices to spike on ‘Mornings with Maria.’

Patrick De Haan, head of petroleum analyses at GasBuddy, said that gas prices have "improved significantly over the summer," telling, "Mornings with Maria," Thursday, that, barring hurricanes or disruptions, Americans should continue to see prices decline.

PATRICK DE HAAN: [Gas prices] Improved significantly over summer and Labor Day is one of the less traveled summer holidays still expecting millions to hit the road with gas prices, as you mentioned, that have fallen. We currently show prices at $3.82 a gallon, I think by Labor Day we'll drop to about  $3.79 a gallon. The good news is barring any hurricanes or disruptions, I think Americans will continue to see gas prices going down perhaps giving them some incentive to hit the road for the last summer holiday of the year. 

GAS PRICES DIP BELOW $4 A GALLON, HERE'S WHY IT STILL COULD BE BAD NEWS FOR BIDEN

Looking at a storm like Hurricane Harvey or a Hurricane Ida like we saw last year. We're still in a precarious situation where supply remains extremely tight and the storm you'll want to be wary of is any storm entering the Gulf of Mexico, a stronger 3, 4, or 5 category that heads for an area between New Orleans and Houston. If we do get that perfect storm gas prices could suddenly jump over 50 cents a gallon.

WATCH FULL INTERVIEW HERE: 

close GasBuddy head of petroleum analysis Patrick De Haan discusses how long gas prices will continue to decline barring any 'disruptions' on 'Mornings with Maria.' video

Falling gas prices should incentivize Americans to hit the road Labor Day Weekend: GasBuddy analyst

GasBuddy head of petroleum analysis Patrick De Haan discusses how long gas prices will continue to decline barring any ‘disruptions’ on ‘Mornings with Maria.’

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