Posted on 01/05/2026 6:46:22 AM PST by Diana in Wisconsin
The gas pump has emerged as a rare source of relief for Americans drowning in higher prices — and that positive trend is expected to continue in 2026, regardless of the uncertainty in Venezuela.
Gas prices are projected to average just $2.97 a gallon nationally this year, according to forecasts from fuel savings platform GasBuddy.
If that forecast, shared first with CNN, proves accurate, 2026 will be the fourth straight year of falling prices at the pump and the first with the annual average below $3 a gallon since 2020.
It’s a far cry from 2022, when the gas pump was ground zero in the inflation crisis. After Russia’s invasion of Ukraine catapulted oil prices, gasoline spiked above $5 a gallon for the first time ever and the US inflation rate surpassed 9%.
“Now things are looking pretty good. We’re finally out of the woods with the market rebalancing after Covid,” said Patrick De Haan, GasBuddy’s head of petroleum analysis.
GasBuddy compiled its forecast prior to the sudden US strike on Venezuela and capture of President Nicolas Maduro. However, De Haan told CNN on Sunday that the situation in Venezuela does not change his upbeat outlook for prices because it will take considerable time to rebuild the nation’s decaying energy infrastructure.
“In the short term, we see little disruption or shift as a result of the events over the last few days,” he said.
Indeed, oil futures were little changed Sunday night after trading began following the US intervention in Venezuela.
The GasBuddy forecast for 2026 offers a powerful counterweight to the affordability concerns that have crushed consumer confidence and sent President Donald Trump’s poll numbers plummeting.
Other costs continue to rise rapidly, including some grocery store items as well as electricity and home heating.
(Excerpt) Read more at channel3000.com ...
"The GasBuddy forecast for 2026 offers a powerful counterweight to the affordability concerns that have crushed consumer confidence and sent President Donald Trump’s poll numbers plummeting.
Other costs continue to rise rapidly, including some grocery store items as well as electricity and home heating."
$2.02 at our Sam’s.
Toilet paper, Clorox wipes, and paper towels will be dirt cheap.
We did some traveling on Saturday and saw it lower than it has been all over southern Wisconsin from $2.49 down to $2.19.
Currently $2.44 at my closest Kwik Trip.
I still have cans of Lysol spray and a container of Clorox wipes they were giving away for free during CovidBS-19. ;)
“ despite”?
Lol!
This reporting has a lot of info about the effect of the Venezuela transition, which they describe as world-changing.
Adam Kobeissi
@TKL_Adam
15h
The US just captured the most notable foreign leader since Saddam Hussein in 2003.
And, the leader’s country, Venezuela, is an OPEC member with the world’s largest oil reserves.
Meanwhile, oil and natural gas prices are falling sharply.
Much more supply is coming to market.
https://x.com/TKL_Adam/status/2007960003043623398?s=20
The Kobeissi Letter
@KobeissiLetter
BREAKING: Oil prices fall -1% and natural gas prices fall -4% as US futures markets open for the first time since President Maduro was captured.
Energy prices are DROPPING amid a major escalation in geopolitical tensions.
This should tell you all you need to know.
https://x.com/KobeissiLetter/status/2007951186960560375?s=20
“In case you don’t realize what just happened:
Venezuela holds the LARGEST oil reserves in the world, at 300 billion barrels.
The US is now “running” Venezuela with large US oil companies moving in, according to Trump.
The US now controls the largest oil reserve in the world.”
PS: look at oil stocks and the market today
Given that the yield per barrel of VZ heavy sour is 10-30%. At 10% of 2024 production of 863470 per day that yields about 86K barrels a day 3x = 259K. World Daily gas usage is about 26.9M. It’s about 1% of daily consumption.
Isn’t their 2024 production a pittance due to the exile of foreign production expertise? It could ramp up rapidly.
$2.17 Cincy suburbs. I filled up for $1.17 with Kroger gas points.That was awesome!😎
Gasoline in northern CA is around $5.50 and expected to go up to $8-ish due to two refineries shutting down.
Not in Kalifornicate. Doom and gloom! Three major oil refineries located in Kalifornia are closing in the next couple of months and that is going to create a huge gas shortage across the state. Market predictors are saying gas could go to $8+ per gallon , if you can get it, and the waiting lines are going to be maddening. Kalifornians can thank Newsom and the criminal Democrats running the state for this coming hardship. No fuel, no business activity, the price of everything is going to skyrocket.
“No fuel, no business activity, the price of everything is going to skyrocket.”
A Mid-1970’s economy, writ large! Carter on steroids. I lived through that. Just graduated High School. No jobs. No gas, l-o-n-g lines IF you could get it. My folks had a mortgage at 23%! No money for college for me. I joined the Army.
“Dispite”? How about because?
Diesel will be dropping also, leading to lower costs on everything that is delivered by a diesel truck.
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