Gasoline reached $5 a gallon or more in more than a dozen states a week into the peak summer travel season, as stockpiles of the fuel remain tight.
New Jersey, Maine and Massachusetts joined the $5 club overnight to bring the national average pump price to a fresh record of $4.919 a gallon, according to auto club AAA. At this rate, JPMorgan Chase & Co’s prediction of $6.20 a gallon gasoline by August seems well within reach.
