FUEL PRICE OUTLOOK 2019 - GasBuddy
[Pages:23]FUEL PRICE OUTLOOK
2019
SUMMARY
About Our Annual Outlook
Accuracy, reliability, and neutrality are GasBuddy's mission with price forecasting, and it is achieved with the independent analysis featured in this outlook.
Note that this outlook is not indicative of what will happen but rather what we believe could happen given specific inputs, potential impacts on production as well as supply and demand.
Fuel markets are complex. This analysis is intended to take current factors and speculate on how today's events may impact gasoline prices in the future. GasBuddy works to make these forecasts as reliable as possible and to be understood by anyone with little or no background of oil and petroleum markets or economics.
About the Authors
Patrick DeHaan, head of petroleum analysis, has been called one of the most accurate fuel forecasters in the U.S. by the San Jose Mercury News and has been analyzing fuel prices and trends for nearly fifteen years. He provided expertise to authorities during Hurricane Harvey and Irma and is regularly cited in U.S. periodicals and news broadcasts for his knowledge on various topics including oil, fuel prices, motor fuel taxation, pipelines and retail stations.
The Honorable Dan McTeague, senior petroleum analyst, is a noted expert in the energy field. He is heralded as "Canada's gas guru" for helping motorists save money at the pump and offer insight into pricing and market dynamics. Dan has also been cited hundreds of times by virtually every Canadian news organization during his decades of experience.
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GASOLINE FORECAST
2019 Gasoline Forecast
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GASOLINE FORECAST
2019 Gasoline Forecast
Page 1
Month January February March April May June
July August September October November December 2019 U.S. Average
Range of Possible $2.19 - $2.51 $2.13 - $2.63 $2.41 - $2.75 $2.63 - $2.94 $2.72 - $3.22 $2.68 - $3.15 $2.63 - $3.11 $2.67 - $3.22 $2.58 - $3.04 $2.49 - $2.93 $2.44 - $2.86 $2.38 - $2.74
Average $2.35 $2.38 $2.58 $2.79 $2.97 $2.92 $2.87 $2.83 $2.76 $2.71 $2.65 $2.56 $2.70
Numbers reflect range of national average by month, with monthly average in bold. ($/gal)
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GASOLINE FORECAST
2019 Gasoline Forecast
Page 2
$4.00 $3.50 $3.00 $2.50 $2.00 $1.50 $1.00 $0.50 $0.00
Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sept. Oct. Nov. Dec.
Chart reflects range of national average by month, with monthly average shown as red line.
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GASOLINE FORECAST
2019 Gasoline Forecast
Page 3
Monthly Spending on Gasoline 2016-2018, 2019*
(*projected, in billions)
$40b $35b $30b $25b $20b $15b $10b
$5b $0b
Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sept. Oct. Nov. Dec. 2016 2017 2018 2019*
2019* Total U.S. Gasoline Spending: $386.0 billion 2018 Total U.S. Gasoline Spending: $388.5 billion 2017 Total U.S. Gasoline Spending: $339.2 billion 2016 Total U.S. Gasoline Spending: $302.5 billion
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GASOLINE FORECAST
2019 Gasoline Forecast
Page 4
Yearly Household Spending on Gasoline
(*projected)
$3,000
$2,659
$2,500
$2,016
$2,000 $1,500
$1,772
$1,991
$1,000
$500
$0 2011 2012 2013 2014 2015 2016 2017 2018 2019*
2019* Average Household Gasoline Spending: $1991 2018 Average Household Gasoline Spending: $2016 2017 Average Household Gasoline Spending: $1765 2016 Average Household Gasoline Spending: $1566
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GASOLINE FORECAST
Highest Daily Average Gas Price Select Cities, 2019
City
Highest Daily Average
Atlanta Boston Chicago Cleveland Dallas/Ft. Worth Denver Detroit Houston Los Angeles Miami Minneapolis New York City Orlando Philadelphia Phoenix Sacramento San Francisco Seattle St. Louis Tampa Washington, D.C.
$2.80-$3.10 $2.85-$3.15 $3.10-$3.50 $2.75-$3.05 $2.60-$2.95 $2.70-$3.05 $2.90-$3.20 $2.55-$2.90 $3.70-$4.15 $2.80-$3.15 $2.75-$3.10 $3.05-$3.35 $2.75-$3.05 $2.90-$3.30 $2.85-$3.25 $3.50-$4.10 $3.75-$4.20 $3.45-$3.85 $2.70-$3.05 $2.65-$3.05 $2.90-$3.20
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Prices represent peak average daily gas price by city for select U.S. cities
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