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Future of gas prices looks a bit higher

Area motorists like me can’t help but have taken notice of gas prices around the region.

With the thought of gas prices hovering around $2.67 a gallon today, I wondered what we all might expect to be paying the rest of the year.

When it comes to gas prices, I always turn to gasbuddy.com, an Internet site that monitors 140,000 gas prices across the U.S. I have found them to be remarkably reliable over the years and while an analysis ultimately is just another person’s “best guess,” generally speaking what they have projected in the past has been amazingly accurate.

Their analysts maintain that because the production of oil has declined worldwide, expect to pay higher prices for gas in 2018. They are projecting the yearly average ($2.57) to be 19 cents higher per gallon than it was in 2017. Of course, if that ends up to be the case, it would mean locally we would see a price decrease in the weeks and months ahead, which would suit us just fine.

Here are the main observations that the site offers about their projection.

“The nation’s yearly gasoline bill will rise to $364.6 billion, some $25 billion higher than what motorists spent last year as the average household sees their yearly gasoline bill rise to $1,898, up from $1,765 in 2017.

“GasBuddy’s forecast does not expect any record-breaking prices to be set in 2018, and most of the country will see prices peak under $3 per gallon, but unexpected disruptions could push the national average close to $3.

“How accurate have past forecasts been? In 2017, the forecast called for a yearly national average of $2.49. Actual: $2.39. In 2016, the forecast called for a yearly national average of $2.28. Actual: $2.12.”

I know your crystal ball is no better than mine, or theirs, but I do know I follow these guys closely each week to watch for trends and forecasts. Because of what I’ve read from them in the past, I’ve saved myself some cash on timing when to fill up my tank. They’ve earned my attention, and hopefully yours.

— — — — —

Every year at this time the good folks at Lake Superior State University give me a smile with their annual list of banished words. This year marked the 43rd list, which dates back to Jan. 1, 1976.

The new list contains 14 words or phrases that were nominated for banishment.

The list includes unpack, tons, dish, pre-owned, onboarding/offboarding, nothingburger, let that sink in, impactful, let me ask you this, covfefe, drill down, fake news, hot water heater and gig economy.

“We’ve drilled down and unpacked tons of pre-owned words and phrases deemed impactful by hundreds of nominators during 2017,” said an LSSU spokesperson. “Let that sink in.”

Don’t you love it?

Bill Speer can be reached via email at bspeer@thealpenanews.com or by phone at 354-3111 ext. 331. Follow Bill on Twitter @billspeer13.

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