RHINELANDER, WI (WSAU-WXPR) — Enjoy the lower gas prices now because an industry expert thinks we’ll see prices close to a dollar a gallon higher by summer.
Head of petroleum analysis for the website gas buddy dot com, Patrick DeHaan, says after rising through the fall, gas prices in the Northwoods have fallen. “Prices have continued to fall in Rhinelander. Prices now under $2.00 a gallon at almost every station. The price of oil continues to be under pressure and remains at about $45 a barrel. We welcome 2019 with some of the lowest gas prices we’ve seen in the last year and a half. A great way to ring in the new year. But there’s an ominous outlook on the horizon.”
DeHaan says the prices now could be affected by a large trade deal being negotiated with China. “If President Trump makes a trade deal with China it could be a boon to the economy. If he doesn’t, it could mean prices will likely be lower than we’ve seen in years past. For 2019, GasBuddy sees gas prices just slightly under what we saw in 2018. There still is the possibility that we will see $3.00 a gallon prices eventually.”
DeHaan says if the economy is strong, the price of gas will rise. He says seasonal trends also will factor in as refineries next month will begin moving toward summer blend gasoline which cost more. He says OPEC also has been cutting production, but that has not had a hard effect to date on gas prices.
