/JPMorgan Predicts How Much Gas Will Cost This Fall

JPMorgan Predicts How Much Gas Will Cost This Fall

The average national retail price for a gallon of regular gasoline is projected to surpass $6 by the of summer, according to a recent JPMorgan research note.

On Wednesday, the national average hit another record, reaching $4.56 per gallon, according to AAA. That’s already up nearly 50 cents from a month ago, and $1.52 from this time last year, according to AAA’s recent data.

According to JPMorgan, prices could surge another 37% by August, hitting a $6.20 per gallon national average.

This is due to “expectations of strong driving demand” throughout the summer driving season, which spans from Memorial Day and lasts until Labor Day, the analysts, led by Natasha Kaneva, the head of JPMorgan’s global commodities strategy team, wrote.

Keep reading at Fox Business for more.