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You could end up shelling out an extra $1,300 on gas this year, experts estimate

US Gas Prices
Posted at 12:04 PM, Mar 11, 2022
and last updated 2022-03-11 15:37:20-05

$1,300 -- that’s how much more we will likely spend on gas this year, experts estimate.

Moody's Analytics calculated this number using Monday’s national gas price average, when it was $4.14 per gallon.

However, $1,300 could be on the lower end of the spectrum.

We may spend much more if gas prices continue to rise.

If households cut back spending on other goods, experts fear it could negatively impact other parts of the economy.