GasBuddy is Forecasting Continued “Volatility” at the Pump

(Undated) — Motorists should expect continued “volatility” at the pump in the weeks ahead. According to GasBuddy Head of Petroleum Analysis, Patrick De Haan, average gasoline prices fell in slightly more than half of states over the last week while diesel declined in roughly half, as oil prices moved lower and offered some modest relief at the pump. He says over the weekend, the Trump administration struck a major deal with Venezuela, a signal that the White House remains concerned about elevated fuel prices, though in reality, any benefits from increased Venezuelan output will take years to fully materialize and are unlikely to move the needle in the near term. De Haan says the factors with the most immediate impact on where prices go from here remain the ongoing developments between the U.S. and Iran and continued Ukrainian attacks on Russian oil refineries, both of which continue to exert outsized influence on global fuel markets.