My last post on gas prices, Christmas 2017 Gas Prices Expected To Be Higher Than Last Year, was published on December 20, 2017. At that time, the average price for a gallon of gasoline was $2.444.
Holiday travel for Christmas and New Year have concluded and show a rise of about 4 cents per gallon for regular gasoline. Here are the average U.S. gas prices by grade for today, January 3, 2018 (Source: AAA Gas Prices):
$2.78 0 E85
The future of gas prices in the months ahead has yet to play out, however, analysts project that they will continue to rise. Why? One reason is a steady increasing consumption of gasoline that was exhibited by U.S. motorists in 2017. It is unknown if the current winter storms and sub-freezing temperatures that most of the U.S. is experiencing will have an impact on gas prices, but, increasing oil and fuel exports from the U.S. and OPEC’s continued restriction on oil production could tighten the petroleum supply which could cause prices at the pump to rise.
For now, however, an increase of less than 5 cents per gallon for regular gasoline won’t bust most budgets. For January 2018, the main focus for U.S. motorists should be to drive safely during winter weather conditions, avoid getting stranded, and stay warm!