Gas Prices Could Reach More Than $2.30 By July 4th Holiday

(UNDATED) – Every couple of weeks, there will continue to be a “noticeable bump” in gas prices, says GasBuddy. With states continuing to loosen coronavirus restrictions, demand for gasoline has increased.

“Watching demand recover has been certainly a surprise. More Americans are hitting the road. Demand bottomed out in early April when we were almost all staying home. It was just half of what it normally is. Now we’re about three-quarters of where we normally are. That’s why prices have rebounded,” says Patrick DeHaan, head of petroleum analysis for GasBuddy.

That’s a trend you can expect to continue, DeHaan says.

“I think every couple of weeks, we’ll see a bump somewhere around 15-20 cents. We could be talking about prices somewhere in the $2.29 to $2.39 range by July 4 and perhaps around $2.49 to $2.69 by Labor Day, so long as things continue to recover,” says DeHaan.

But he says prices in Indianapolis are still $1 per gallon lower now than they were May 2019.

You can also expect there to be more precautions at gas stations because of the coronavirus.

“Gas stations have done a lot. They’ve responded well to keep their stations cleaner. They’ll have hand sanitizer at the pump or in the store,” says DeHaan.

He also recommends carrying your own sanitizer, if possible.

“Get the sanitizer out if you’re touching a gas pump. Remember, you’re touching something that somebody else has touched, whether it be the pump or the buttons, etc. Just be aware of the surfaces you’re touching,” says DeHaan.

DeHaan expects summer gas prices to be lower compared to previous years, even with demand increasing.