With gas prices averaging nearly $4.50 per gallon, distraught drivers might feel they’re due for a break. But gas prices seem likely to go higher, and maybe break $5 on average, as Russian oil disappears from the market and producers struggle to keep up with demand.
“My expectation is it’s going to get worse for consumers,” Vicki Hollub, CEO of Occidental Petroleum, said at a May 13 online forum sponsored by the Dallas Federal Reserve Bank. “Spare capacity is at a multi-decade low….
Source link
