Gasoline Expected To Rise Above $5 Per Gallon and Hold Throughout Summer

Gasoline Expected To Rise Above $5 Per Gallon and Hold Throughout Summer

Experts’ Prediction For Summer Gas Prices Will Leave You Sweating

( – Americans are already struggling at the pump amid record inflation and fuel prices. As summer approaches, more and more people are going to want to travel. Unfortunately, there’s some bad news for those looking to budget in fuel, lodging, and food: Experts expect gas prices to only go up, reaching $5 per gallon, and these prices are likely to last all summer.

CNBC reports that drivers typically see gas prices steadily increase until about mid-May, when they usually peak to start the summer. The largest number of drivers usually hits in July, just after Independence Day. However, this year is likely going to be drastically different as experts predict prices will reach at least $5 a gallon and hold there for the duration of the summer.

That’s bad news for Americans. CNBC reported Americans are spending around $5,000 just on fuel in 2022, comparing the figure to a year ago, when people averaged only $2,800 for the same amount. The American Automobile Association (AAA) reported on May 19 that the national average price for one gallon of regular unleaded gasoline was $4.589.

Experts claim the uncertainty of the Russia-Ukraine conflict, along with an alleged pressure on the supply chain, is contributing to the high fuel prices. Americans are already struggling to afford rent, utilities, and food, and they’ll likely pay more for all of these expenses as companies raise prices to accommodate increased fuel costs. The summer may not be as enjoyable as some people might hope, at least for anyone who’d planned to drive far for vacation.

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