The price of gasoline in the US: when is it expected to fall

According to EIA.gov and Fox Business, the current price per gallon of gasoline in the US is $3,14, up from $2,17 in 2020.

It's no secret that prices for most goods and services. However, the most affected item, which contributed the most to the growth of other sectors, was the hydrocarbon industry. Gasoline prices have fluctuated significantly from 2020 to now, which is why here we will explain why this phenomenon occurs and when its prices are expected to normalize.

The lockdown, or "closure" imposed on the masses to prevent the spread of the virus, resulted in a reduction in the use of vehicle fuel, so at this point, a change in the supply and demand regime began. because there was a lot of supply and very little demand.

Today the situation is very different, because a significant part of the refineries that produce oil for the needs of Americans have significantly reduced their production, while a significant part of the country is already starting to use traditional means of transport again (gradually). In this sense, the situation is completely opposite to what was presented at the beginning of 2020.

For this reason, in today we can (in regular gasoline) and $3,26 (in diesel), which is a significant jump from $2,17 per gallon of gas in 1. According to data from .

However, according to the analyst, it is expected that by the end of 2021 and the beginning of 2022, much cheaper fuel prices can be found. This statement was born as a result of the Biden administration's appeal to the countries included in OPEC, where a gradual increase in barrels shipped to the United States will be carried out to meet the demand of its inhabitants and industry.

On the other hand, the current administration has made a formal call to increase the use of gasoline-powered vehicles in the United States and the United States.

It is important to note that the prices described in this text are in US dollars.