According to JPMorgan Chase analysts, U.S. gasoline prices could rise to $5 per gallon as refineries prioritize jet fuel production amid energy supply pressures. The bank’s report on May 8 noted that current gasoline prices have already reached $4.55 per gallon. Refineries are shifting production toward aviation fuel in response to supply constraints, which reduces diesel and gasoline output. “The risk of gasoline prices rising to $5 cannot be ignored,” the analysts stated. If crude oil supply remains limited, fuel prices could become a primary transmission channel for demand destruction, with crude potentially stabilizing near $100 per barrel.
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