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“Looking out on the horizon, I really don't see an organized drop in prices. The market is starting to feel explosive.”

Head Petroleum Analyst Patrick De Haan, GasBuddy.com, on higher gas prices.

Published on

oct 12, 2021

  • In the U.S., gas prices at the pump reflect the highest average price per gallon of gas in 7 years.
  • Oil prices (which help predict the future price of gasoline and other petroleum products) recently hit multi-year highs.
  • The prices of generally "cheaper" forms of fuel, such as natural gas or coal, have also seen rising prices.
  • Why This Matters: High demand for oil, natural gas, coal, and gasoline has impacted energy markets all over the world. This has led to a concern about supply keeping up with demand, and worries about the potential impact of a particularly harsh winter. All of this has resulted in higher prices.

Gas prices skyrocket as the global energy crisis worsens

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