Summer gas prices not expected to accelerate
By Sarah Ponczek, Bloomberg
American drivers paying the the most for gasoline since 2015 can take some comfort from forecasts that prices don’t have much further to rise.
Regular gasoline averaged $2.42 a gallon Monday, according to the Energy Information Administration. While prices are 35 cents higher than a year ago, they’re just 4 cents below the agency’s forecast average for the summer.
The EIA in its Summer Fuels Outlook sees prices averaging 23 cents higher this summer than a year earlier, primarily because Brent crude oil is forecast to be $8 a barrel more than in the summer of 2016.