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Drivers may pay less for gas in 2019

Projected price is $2.70 a gallon

Bloomberg

Continued OPEC production cuts and a strong U.S. economy would push gasoline prices higher in the spring.
Bloomberg Continued OPEC production cuts and a strong U.S. economy would push gasoline prices higher in the spring.

American drivers are likely to pay a little less for gas this year.

The projected $2.70 a gallon pump price for 2019 nationwide is three cents lower than 2018 levels — although this year’s high could reach $3 as soon as May and top $4 in some cities, according to GasBuddy’s Price Fuel Outlook.

While overall prices are set to decline, drivers should brace for a rocky ride.

Continued Organization of the Petroleum Exporting Countries production cuts and a strong U.S. economy would push prices higher in the spring, while an economic slowdown or lower demand could reduce prices, wrote Patrick DeHaan, head of petroleum analysis at GasBuddy.

DeHaan says predicting prices this year is especially hard because “you never know what President Trump might do or say to either cause a running of the bulls or bears” in the U.S. stock markets.

“Buckle up for the extra volatility we’re going to see — it could be nauseating,” DeHaan said.

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