US Gas Prices Could Eye $4 in Summer as Oil Rally Persists

This summer, the average price of gasoline will increase to$ 4 per gallon, which will put pressure on drivers ‘ wallets and cause inflation.
The national average for a gallon of gasoline has increased by about 15 % year-to-date to$ 3.53, according to the American Automobile Association ( AAA ).
” Watch out for summer gas prices, which some predict may expand above$ 4 per gallon global and put pressure on prices”, said Rob Thummel, a senior portfolio manager at Tortoise.
Industry professionals warn that the upward trend may resume despite oil prices having been soaring by a quarter for the past month.
” Fuel prices are a lot like annual conditions. They start to rise with the arrival of spring”, said Andrew Gross, a spokeswoman for AAA. ” Oil prices are settling into a design similar to last year’s when the typical annual raise was slow and steady.

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