Drivers could see gas prices surge to nearly $7 a gallon in some US states as refinery issues bite supply and Chinese demand bounces back, GasBuddy says

Drivers could see gas prices surge to nearly $7 a gallon in some US states as refinery issues bite supply and Chinese demand bounces back, GasBuddy saysGas prices could top $4 a gallon in most major US states next year, GasBuddy says. (Photo by Steve Pfost/Newsday RM via Getty Images)Gas prices could surge toward $7 a gallon in some US states in 2023, according to GasBuddy.Cold snaps across the US and revived energy demand from China are the two key factors that could push up prices.“2023 is not going to be a cakewalk for motorists. It could be expensive,” said Patrick De Haan in a blogpost.Sign up for our newsletter to get the inside scoop on what traders are talking about — delivered daily to your inbox.Email addressBy clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy Policy.

Brace for a spike in US gas prices next year due to refinery disruptions and amid renewed energy demand from China as the Asian nation reopens its economy, according to GasBuddy.

“2023 is not going to be a cakewalk for motorists. It could be expensive,” said Patrick De Haan, head of petroleum analysis at the firm, which tracks fuel costs, in its 2023 fuel outlook.

The national average price of gas at the pump could top around $4 a gallon in most major US cities as early as May next year, De Haan said, from $3.18 on Friday. Cities in the West Coast state of California, such as San Francisco and Los Angeles, could see gas prices approach nearly $7 a gallon in the summer of 2023, according to GasBuddy.

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