Caution: 'Cruel summer' ahead as gas price surge continues
Surging gas and food prices are pointing to a less than ideal summer for most Americans. According to AAA, the national average for a gallon of unleaded gas in the United States right now is $4.81. Diesel is currently averaging $5.61 a gallon. As high as this seems, sadly the forecast is only moving toward higher numbers throughout the summer driving season.
J.P. Morgan is forecasting a national average for a gallon of unleaded gas to hit $6.20 a gallon by Labor Day. Which means the outlook for a fun summer could be bleak as Americans tighten up their budgets and hunker down to compensate for the high cost of gas and food.
The team at 5 Things sat down with USA TODAY reporter Medora Lee to talk about some of the reasons behind the high gas prices, what could make it worse and if there is an end in sight.
To learn more about Medora click here. To contact Medora email her at MJLee@usatoday.com
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Episode Transcript available here
Also available at art19.com/shows/5-Things