Expert forecasts: what will gasoline prices be in 2020?

According to GasBuddy's annual fuel economy forecast, Americans are likely to pay an average of $ 2,60 per gallon (3,78 L) in 2020. Writes about this USA Today.

Фото: Depositphotos

According to the US Energy Information Administration, in 2014, drivers across the country paid no more than $ 3.

“This is another good year for Americans,” said Patrick DeHaan, head of petroleum analysis at GasBuddy. “I wouldn’t expect the national average gas price to reach $3 this year.”

The highest average gas price in the country was $ 4,11 on July 17, 2008.

Why has the average cost of fuel been below $ 3 for so long? The main reason is the nation’s oil boom, combined with increased production in other countries.

U.S. oil production rose 38,6% from 8,84 million barrels per day in 2016 to 12,25 million in 2019 and is likely to grow to 13,18 million in 2020.

The United States produces so much oil that it exports more than it imported.

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Encouraged by a strong economy and relatively low gas prices, Americans buy big cars and drive long distances.

According to the US Federal Highway Administration, the total number of miles traveled for all time reached a record high in October, which is the last period for which statistics were available.

The approximate 12-month average was 3,25 trillion miles in October, up 7,9% from 2014.

The lack of gas price volatility played a significant role in the American off-road boom. According to Edmunds, a car buying research site, SUVs account for about half of new car sales, while passenger cars make up about 3 out of 10.

More recently, in 2013, everything was the other way around. According to Ward's Automotive, at that time, cars still accounted for almost half of new car sales. But automakers such as General Motors, Ford Motor, and Fiat Chrysler have discontinued most of their cars, making big bets on SUVs.

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Despite the projected low gas prices, 2020 will not pass without a few sharp fluctuations. GasBuddy predicts that prices will hit a low of $ 2,41 in February and rise to a peak of $ 2,84 in May. Prices usually rise in anticipation of the summer tourist season, and then decline until the end of the year.

Despite the fact that this year fuel at $ 3 across the country is unlikely, but it is predicted that several large cities will reach this threshold, including Chicago (Illinois), New York (New York), Phoenix (Arizona), Miami (Florida), Boston (Massachusetts), Detroit (Michigan) and Seattle (Washington).

GasBuddy predicts that three California cities should even exceed $ 4: Los Angeles, Sacramento, and San Francisco. California usually has the highest gas prices nationwide.

The average American is expected to pay $ 1935 for gasoline in 2020, which is $ 2 more than in 2019, but below the level of $ 2489 in 2014, when the last time gas prices exceeded $ 3 per gallon (3,78 L )

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