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Higher gas prices coming in 2017, GasBuddy report says

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Posted at 4:22 PM, Jan 04, 2017
and last updated 2017-01-04 18:22:20-05

DENVER – We’re only a few days into 2017 and bad news for car owners are already starting to come in -- especially when it comes to prices at the pump.

Boston-based tech company GasBuddy predicts drivers will have to pay $52 billion more for gas this year, with gas prices rising $2.49 per gallon on average, their 2017 Fuel Price Outlook report shows.

The report also shows the second quarter of the year will be the hardest hit by the increase, with gas prices going up as high as $2.67 a gallon.

(Graphic: GasBuddy)

Projected gas prices will then steadily decrease throughout the rest of the year, the report shows.

What can you expect for Denver?

GasBuddy’s report shows the Mile High City will see a projected peak daily average between $2.75 and $2.95 for gas in 2017.

But that’s not so bad when compared to other cities, like Boston or Los Angeles, which will fare far much worse with projected gas prices sitting somewhere between $2.95 and $3.15 a gallon.

“The increase we anticipate this year may be met with less resistance than in the past if economic improvements softs the blow,” said Gregg Laskoski, a senior petroleum analyst. “If the Trump administration delivers on its promises; lower taxes, more jobs, higher salaries and savings… then a concurrent increase in demand and gasoline prices may be easier to digest.”

You can view the full 2017 Fuel Price Outlook report here

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