US drivers could pay less for gas in 2019

Bloomberg

American drivers are likely to pay a little less for gas this year and President Donald Trump is happy to take credit. The projected $2.70 a gallon pump price for 2019 is 3 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. The lower prices have not escaped Trump’s attention, who equated them to a tax cut in a tweet. While overall prices are set to decline, drivers should brace for a rocky ride. Continued Opec production cuts and a strong US 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.

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