US gas prices forecast to hit record $4.80 per gallon this summer

The national average price for a gallon of gas in the United States could reach $4.80 between Memorial Day and Labor Day, according to a new forecast. This would surpass the previous summer record of $4.50 per gallon set in 2022. The forecast comes from GasBuddy, a fuel savings platform that tracks prices at over 150,000 stations nationwide. The expected surge is driven by rising crude oil costs, refinery maintenance, and the switch to more expensive summer-blend gasoline. Patrick De Haan, head of petroleum analysis at GasBuddy, stated that the upcoming summer driving season could be the most expensive in history. He noted that while prices may not hit the all-time high of $5.02 seen in June 2022, they are likely to remain elevated for an extended period. The forecast highlights ongoing inflationary pressures on American consumers, particularly as travel demand rebounds.