Unleaded Prices Looking Good in Early 2020

Prices at the pump in Washington State appear to have a positive outlook for the first month and a half of 2020.

"I think we have a potential for gas prices to move slightly lower in January and February. That's all very seasonal of course." Patrick DeHaan of Gasbuddy.com said, "There is offsetting issues right now. The U.S. economy is strong, and of course the ongoing issues with Iran."

DeHaan added that Iran will be the main focus of oil investors in the immediate future. However, with Iran facing sanctions and the U.S. producing so much oil, he does not anticipate this specific issue to drive up unleaded prices. That could change, though, if tensions are prolonged.

"I think it's almost a guarantee that gas prices will move higher starting in mid-February as we begin the seasonal increase in demand and as we start to roll into cleaner, more expensive summer gasoline. At the same time refinery maintenance is beginning. That will likely last through April or May, by the end of which prices at the pump may have gone up dramatically, anywhere from 35 to 75 cents a gallon," explained DeHaan.

U.S. oil production rose to 13 million barrels a day, similar to an OPEC nation.