The national average gas price reached $5 a gallon earlier today and some experts are saying it could go to $6 by late summer.
, said on Twitter, “We hit $5/gal and won’t stop there.” De Haan also said Chicago is just 3 cents away from having a $6 a gallon average price. That would make it the first city outside of California to reach that milestone, he said.
Now, the question appears to be - will gas prices hit $6 a gallon nationwide. It is not out of the question.“With expectations of strong driving demand … US retail price could surge another 37% by August to a $6.20/gal national average.” David Blackmon, an energy-related public policy analyst/consultant based in Mansfield, Texas, writing forsaid, “A radio host asked me this week how long I thought the era of $5.00 gas at the pump would last. I replied that it would likely last as long as it takes for the price to rise to $6.00 per gallon. It was not a facetious reply.”
Blackmon reported that the high price for crude oil “on the global market are a key driver of these rising gas prices.” have predicted the price for crude oil to reach $140 a barrel. “A large spike in prices remains quite possible this summer, when demand seasonally reaches its peak,” the Goldman analysts said.Note to readers: if you purchase something through one of our affiliate links we may earn a commission.
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