Maybe a "bumpy road" ahead for Michigan gas prices in 2022
When it comes to gasoline prices, one expert predicts Michigan motorists may face a “bumpy road” in 2022.
AAA-Michigan says the average price of a gallon of regular unleaded in Michigan started 2021 at $2.17 and rose steadily until peaking at $3.43 in early November.
Patrick DeHaan is a petroleum industry analyst at GasBuddy.com. He says, depending on what happens with the COVID-19 pandemic, prices in 2022 could approach four dollars a gallon.
“There are a wide range of possibilities for gas prices next year,” said DeHaan. “I would hope that we would avoid seeing that $4 price. But if there isn’t a significant improvement in the pandemic...(it’s) possible that we could see prices getting near that mark.”
On a positive note, DeHaan says oil production continues to slowly rise. As more oil enters the market, he says prices at the pump should be eased.
“So long as we don’t go back into shutdown mode, I do expect that overall oil production will continue to increase in the months ahead,” says DeHaan. “And that should eventually bring some relief potentially by mid to late 2022.”