Experts Expect Gas Prices to Reach $6 a Gallon Nationally This Summer

The average price of gas in California hit $6 a gallon yesterday and analysts say that price could be the national norm before the end of the summer. In a statement, the Head of Global Oil and Commodities Research at JPMorgan, Natasha Kaneva, said “There is a real risk the price could reach $6+ a gallon by August” with inventories of gasoline in the United States sitting at their lowest seasonal levels since 2019. The company is concerned it will be difficult to satisfy intense demands during the summer season. Yesterday, the national average for gasoline rose to a record high of $4.52 a gallon according to AAA, which makes prices at the pump 15 cents higher in the past week and 44 cents higher in a month.