Gas prices could hit $4 a gallon by May

Gas prices will probably be significantly cheaper overall next year. Yet the national average could still climb back above the $4-a-gallon threshold as soon as May, according to GasBuddy projections shared exclusively with CNN.

The good news is that GasBuddy, an app that tracks fuel prices, doesn’t expect a repeat of this year’s wild swings that at one point sent gas prices above $5 a gallon for the first time ever. That spike set off recession alarm bells, worsened inflation and crushed consumer confidence. …

The bad news is GasBuddy expects the national average to climb from $3.10 a gallon today to a range of $3.52 to $4.05 in May as Americans hit the roads.

“2023 is not going to be a cakewalk for motorists. It could be expensive,” Patrick De Haan, head of petroleum analysis at GasBuddy, told CNN. “The national average could breach $4 a gallon as early as May — and that’s something that could last through much of the summer driving season.”