Hold onto your wallets, drivers; the summer 2021 weekend zips to the Shore or the Poconos are almost certain to cost more, reports Chris Ullery in the Bucks County Courier Times.
Bucks County currently holds the second-highest per-gallon gas price in the suburbs, at $2.97, jumping $.03 in one weekend.
And it’s not expected to get any better. Summer projections show a possible rise to $3.50 a gallon, nearly a 20 percent jump.
Reasons include OPEC production rates, which were only minimally increased. Economic forecasters predicted a greater surge in supply, given expected increases in leisure/business driving as COVID restrictions are gradually rolled back. But that doesn’t seem likely.
Mother nature didn’t help, either. U.S. refinery productivity in Texas took a hit in February with record cold and ice storms.
Analyst Phil Flynn, of the Chicago-based PRICE Futures Group, said Southeastern Pennsylvania is “…probably going to experience the most expensive gasoline prices we’ve seen in many years.”
Read more about predictions on the price of gas in the summer in the Bucks County Courier Times here.