The unfortunate situation for drivers in the United States continues to worsen.
On June 2nd, the national average retail price of regular gasoline increased by four cents to $4.71 a gallon, a new record high.
The likelihood of the national average reaching $5 a gallon is increasing, and this could occur as early as June 17th.
JPMorgan predicts prices could rise by 37% by August, reaching $6.20 per gallon.
Several factors keep fuel costs high. The typical driver spends $4,800 a year on gas, up from $2,800 a year ago.
Prices are 52 cents higher a month and $1.67 higher a year ago.
Every state's average gas price is at $4 per gallon, but only California's has topped $6.
On 2nd June, the average retail price for a gallon of normal gasoline in California reached $6.21.
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