LAS VEGAS (KLAS)– Gas prices are once again expected to rise in the spring as they could reach $4 per gallon nationwide.
That’s according to GasBuddy, a company that tracks gas prices, which forecasts that prices will top out around $4 per gallon for most major cities around Memorial Day. Meantime some cities like Sacramento and San Francisco could see prices soar to over $ 5 per gallon.
“While Americans are likely to see higher prices in 2022, it’s a sign that the economy continues to recover from Covid-19,” said Patrick De Haan, GasBuddy’s head of petroleum analysis, in the report. “The higher prices go, the stronger the economy is. No one would love to see $4 per gallon gasoline, but we’ll only get there on the back of a very strong economy, so it’s not necessarily bad news.”
Nevada gas prices are nearly $3.81 per gallon on average, while the national average is $3.30 per gallon.
Figures reported Thursday by AAA indicate gas prices are averaging between $3.776 and $4.007 in Clark County.
Cheaper prices are available at club stores and some discount retailers in Las Vegas. For example, Sam’s Club and Costco are selling regular unleaded gas at $3.38, according to the website gasbuddy.com.
Gas prices rose again last week primarily because of a price surge in crude oil, according to AAA.
“Markets, in general, don’t like uncertainty and volatility, and the oil market is no exception,” Aldo Vazquez, AAA spokesperson, said.
The national average for gas this time last year was $2.35 a gallon.