De Haan, the head of petroleum analysis at GasBuddy, wrote in a post on Bluesky that, based on current markets, “gas prices could start reversing nationally in 48 hours or so- by a few cents every day.”
Gas prices have skyrocketed in the last month as the war produced the largest supply shock to the global oil market in history.
“Diesel prices may lag slightly- but where things stand now, diesel is NO longer likely to reach a record,” De Haan wrote. “National average gasoline could fall below $4 in ~1-2 weeks, diesel >$5 in 6-8 weeks.”
“Coming days will see volatility as the US/Iran and other parties negotiate,” De Haan wrote in a second post. “Iran has signaled safe passage through the Strait for two weeks. Right now: oil prices dropping significantly, and that could lead gas price increases to fade over the next 48 hours before drops then begin.”
