Gas Prices Reach Highest Point Since October, Expected to Peak Soon

Analysts predict a potential decrease in gas prices after a peak in spring, amid geopolitical tensions and OPEC+ production cuts.

National average gas prices have reached their highest point since October, with the average price for a gallon of regular gas now at $3.53.
Analysts predict a peak in gas prices during April and May, with a potential decrease to below $4 per gallon by Memorial Day and possibly $2.99 per gallon at thousands of stations by the last quarter of 2024.
Geopolitical conflicts and production cuts by OPEC+ are significant factors in the recent surge in oil prices, affecting gas prices.
In California, the average price for a gallon of regular gasoline is the highest in the U.S. at $5.08, followed by Hawaii and Washington.
The BP oil refinery in Whitling, Indiana, the largest operated by BP and the largest refinery in the Midwest, is expected to return to full production this month after a shutdown in February.