Analyst Predicts Record-Breaking Average Gas Prices By April Fools Day (No Joke)

Gas Price Analyst Patrick De Haan predicted that the average price of gas could break the record by April Fools Day.

The record for highest gas prices was reached in July 2008 when Americans were paying an average of $4.11 per gallon.

In a tweet yesterday, De Haan declared, “WTI now up over $10/bbl, national average now $3.62/gal, will be $3.75/gal by next week, potentially $3.90/gal by St. Patrick’s, and potentially record breaking ($4.10) by April Fools- no joke.”

WTI now up over $10/bbl, national average now $3.62/gal, will be $3.75/gal by next week, potentially $3.90/gal by St. Patrick’s, and potentially record breaking ($4.10) by April Fools- no joke.

— Patrick De Haan ⛽️📊 (@GasBuddyGuy) March 1, 2022

Yesterday, Joe Biden authorized the Department of Energy to release 30 million barrels of oil from strategic reserve.

All 31 member countries of the International Energy Agency have agreed to release 60 million barrels of oil “to send a strong message to oil markets” that there will be “no shortfall in supplies.”

De Haan said in another tweet that it was “insignificant given the defacto ban on Russian oil.”

this is insignificant given the defacto ban on Russian oil https://t.co/PY1Nkmz1xV

— Patrick De Haan ⛽️📊 (@GasBuddyGuy) March 1, 2022

“President Biden should immediately take action to waive EPA summer gasoline requirements,” De Haan recommended in a follow-up tweet.

President Biden should immediately take action to waive EPA summer gasoline requirements.

— Patrick De Haan ⛽️📊 (@GasBuddyGuy) March 1, 2022

According to data from AAA, the current national average price of gas is $3.61 a gallon, up 26 cents from February and roughly a dollar from a year ago.