Higher Gas Prices Predicted For 2018

Posted on Friday, December 29, 2017 05:01 AM

A senior petroleum analyst believes drivers will be paying up more at the pumps in 2018.

But Dan McTeague with Gasbuddy.com says the year may start off with price dips which is traditional in mid-winter.

"Supply often exceeds demand.  I'm not so sure that will be the same case for diesel and furnace oil.  I think those prices will remain relatively elevated until April," he notes.

McTeague adds strong US demand, government policies on carbon taxes and the prospect of greater weakness in the Canadian dollar will all be factors for gas prices in 2018.