Gas Prices Surge Again: Brace for Further Increases, Analysts Warn
Gasoline prices in the US have reached a national average of $3.732 per gallon, with analysts warning that prices may continue to rise. The increase is attributed to rising oil prices, heat-related refinery outages in Louisiana and Texas, and tight gasoline supply. The market has also seen increased buying of gasoline futures contracts by speculators ahead of the hurricane season. Higher wholesale prices are expected to lead to higher retail prices in the coming weeks, but prices may pause or reverse if the hurricane threat dissipates.