[WRAK] The average gas price in North Carolina stands at $4.32 per gallon on Wednesday. Experts are now saying we could see gas prices at $6 by the end of the summer.
The local average jumped 6 cents Tuesday night -- the largest increase we've seen in awhile.
CNN Business reports the average price for gasoline in California hit $6 a gallon Tuesday for the first time, and that could become the national average in only a few months.
"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.
While JPMorgan is concerned it could be difficult to meet intense demand during this summer's driving season, other experts don’t believe gas prices will ever get that high because many people would likely "balk at $6 gas" and drive less. |