The national average gas price jumped 25 cents in the past week and 59 cents in the past month, reaching a total of $4.87 per gallon on Monday, according to CNN.
AAA says that the price of oil is double what it was last August, sitting at about $120 on Monday, due to demand surging past the amount of global supply. As a result of increased travel over Memorial Day weekend, the national average for a gallon of gas has steadily increased.
Michigan and Indiana are the two newest states with gas at $5 per gallon, with Massachusetts, New Jersey and Pennsylvania just pennies away, CNN reports. Some industry experts predict that the national average will hit $5 this week, according to Fox News.
States with gas that costs over $5 per gallon
These 10 states have regular gas prices of, on average, more than $5 a gallon, per AAA:
- California: $6.31.
- Nevada: $5.49.
- Hawaii: $5.47.
- Oregon: $5.41.
- Washington: $5.40.
- Illinois: $5.40.
- Alaska: $5.37.
- Arizona: $5.13.
- District of Columbia: $5.06.
- Michigan: $5.05.
- Indiana: $5..
If current trends continue, the following states could hit $5 per gallon soon:
- New Jersey: $4.98.
- Maine: $4.97.
- Massachusetts: $4.96.
- Pennsylvania: $4.95.
- Rhode Island: $4.94.
- Vermont: $4.91.
- New Hampshire: $4.90.
Will gas get any cheaper?
Experts predict that gas prices will continue to climb throughout the summer. Chris Herb, president of Connecticut Energy Marketers Association, told NBC Connecticut that “Demand is outpacing supply and the war is continuing to put that pressure on the markets.”
Previous Deseret News reporting stated that experts predict national average gas prices to hit $6 a gallon by August.
However, NPR states that some oil and gas companies are planning to boost production. David Holt, the president of Consumer Energy Alliance, called for member companies to “ramp up” their oil and gas production rates.