Gas prices likely to stay steady in 2020

News

(CNN) – Nothing is certain but death, taxes, and rising gas prices.

Well, maybe not that last one!

Smartphone app Gas Buddy is forecasting gas prices in 2020 will actually be two cents lower than last year at $2.60 per gallon.

Of course, that won’t be true all year.

Gas prices tend to rise as refiners switch to summer blends, and that will also happen this year.

Gas Buddy predicts prices will be lowest in February and rise to a peak in May.

Many large cities are also likely to see jumps to more than $3 a gallon and up to $4 in parts of the West Coast.

Take it all with a “grain of petroleum,” though!

Gas prices are determined by the world market for oil.

Unforeseen geopolitical events can lead to unexpected and often large price swings.

Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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