The U.S. national average for regular gas could top $6.00 per gallon in the coming months, J.P. Morgan predicted this week in a report titled “Cruel Summer.”
for ten consecutive days, standing at $4.589 on Thursday. That reflects a 2 cent increase over the last day, 17 cent increase over the last week, and a nearly 49 cent increase over the last month.
“With expectations of strong driving demand … US retail price could surge another 37% by August to a $6.20/gal national average,” J.P. Morgan’s commodities research head, Natasha Kaneva,The outlook arrived days ahead of the Memorial Day holiday, the traditional start of the summer driving season that runs until Labor Day in early September.
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