$6 gas could spread nationwide, JPMorgan warns

CNN Business/Matt Egan and Chris Isidore/5-27-2022
The startling forecast comes as US gas prices have surged to record highs in the aftermath of Russia’s invasion of Ukraine, casting a shadow over the economy. ‘There is a real risk the price could reach $6+ a gallon by August,’ Natasha Kaneva, head of global oil and commodities research at JPMorgan, told CNN in an email on Tuesday.”

USAGOLD note: The national average is now $4.52 per gallon. If the price goes to $6 by August, it would amount to a 37% increase in two and half months. The public howl over inflation would likely become very loud.

ramirez cartoon showing the impact of inflation higher gas prices onn consumersCartoon courtesy of MichaelPRamirez.com

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