After weeks of analysis, GasBuddy has released its yearly gasoline price outlook. The analysis is the result of in-depth analysis run by two of GasBuddy's own Petroleum Analysts, Patrick DeHaan and Gregg Laskoski.
While this is GasBuddy's first annual official gasoline outlook, it comes after industry leading accuracy of past forecasts, such as two notable forecasts our analysts released in 2011. GasBuddy went on record January 2011 when prices were just $3/gal nationally saying prices by Memorial Day 2011 would rise to $3.65-$4.05 per gallon. Amazingly enough, prices rose to $3.96, in the upper part of the range expected. Again in August 2011, a forecast was released announcing the expected gasoline price over Thanksgiving to drop to $3.25-$3.50. The actual price dropped to the $3.30s from August pricing of $3.65-$3.75.
There certainly are some factors that have potential to result in the most volatile prices we've ever seen before. Highlighted in the report are how Keystone XL may impact oil prices, as well as Iran, and record domestic exports.
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While as an organization we hope for lower gasoline prices, we certainly realize that reality varies from what we desire.