Motorists hoping for relief at the pump soon are going to be disappointed. It could be a long, hot and expensive summer. Experts say the once-unlikely $5-a-gallon average price becomes more likely every day.
In Pennsylvania today, the average price for a gallon of gas is a record $4.85, according to AAA. Other states have already surpassed the $5-a-gallon milestone.Patrick De Haan, head of petroleum analysis for GasBuddy.com, said on Twitter this morning, “Happy Friday! Until you drive by a gas station and it hits you in the face that #gasprices are at another record, then it’s a lousy Friday.”
De Haan predicts that the national average price per gallon will hit $5 around June 17. The national average price today is $4.76 a gallon. De Haan shared on June 1 a Tweet showing gas selling for $9.45 a gallon at a Chevron station in Mendocino, California - “the most expensive station in the country and the highest price we’ve recorded. It’s over $3/gal higher than the California average and is a definite outlier.”“These supply and demand dynamics have contributed to rising pump prices. Coupled with volatile crude oil prices, pump prices will likely remain elevated as long as demand grows and supply remains tight.
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