After weeks of falling gasoline prices, Boston-based fuel tracker GasBuddy is predicting a price surge that could push the average cost of gas in Maine up over $3 per gallon by May.
Patrick DeHaan, head of petroleum analysis, says there are a couple of supply and demand factors at play, including a predicted strong economy for 2019, which he says usually signals higher prices at the pump nationwide.
“Oil prices will also likely drift higher as OPEC started the new year by cutting production,” he says.
In Maine, pump prices this week are averaging $2.28 per gallon, down almost 20 cents from last month. Those prices should last another 4-6 weeks, DeHaan says, but then seasonal demand factors start to kick in, and he expects Maine gas prices to surge significantly by the Memorial Day travel weekend.
