Gasoline prices hit 2023 highs this week as US crude topped $90 per barrel for the first time since November of last year.
The national average for gas, according to AAA, reached $3.87 per gallon on Friday, just as Hurricane Lee was heading toward northern New England. But there’s likely good news ahead for consumers: Analysts think prices will come down due to use of winter-grade gasoline, which costs less to make.
Barring significant disruptions from Hurricane Lee, Tom Kloza, global head of energy analysis at OPIS, told Yahoo Finance, gas prices are likely peaking. He added that “we’ll likely see prices ease a bit at the pump even if crude stays in the $90/bbl neighborhood.”
Andy Lipow of Lipow Oil Associates echoed a similar sentiment.
“In the next five days I expect gasoline prices to tick on up a few cents, but afterwards consumers east of the Rockies will benefit from the lower…
