When will gas prices stop rising? Experts weigh in
The average price of a gallon of gas has risen more than 8% over the last month. Drivers have enjoyed relief at the gas pump this summer compared with eye-popping prices a year ago, but an alarming trend has emerged in recent weeks: Prices are rising once again. Over the past month, the average price of a gallon of gas has jumped more than 8%, surpassing $3.80, AAA data showed. In California, the state with the highest gas prices, an average gallon costs more than $5. An output cut imposed by OPEC+ has constrained supply during the summer travel season when demand peaks, sending the price of crude oil soaring and in turn bringing sticker shock to the pump, analysts told ABC News. Meanwhile, a heat wave across the U.S. has limited domestic oil refinery capacity. Gas price s typically fall as Travel slows in the autumn months, but analysts differed over the likelihood of such an outcome amid lingering questions about OPEC+ policy and the continuing oil needs of a resilient global econom...
