Thursday 19 May 2022 03:25 PM Average gas price in the US hits record high of $4.589 trends now Average gas price in the US hits record high of $4.589 as JPMorgan says to expect national average to hit $6 by the end of summer Gas prices in the US reached a new record high Thursday, recording a national average of $4.589 per gallon, according to AAA's gas price calculator Analysts at JPMorgan now warning that that number could surpass the $6 mark by the end of the summer The concerning forecast comes as US gas prices have surged to previously unseen highs during Joe Biden's presidency The nation's current average gasoline price, $4.58-a-gallon, stands as nearly double the $2.41 seen during former president Trump's last month in office The number topped Wednesday's previous record of $4.567, which eclipsed Tuesday's record of $4.523, which beat out Monday's record of $4.470 By Alex Hammer For Dailymail.Com Published: 14:57 BST, 19 May 2022 | Updated: 15:20 BST, 19 May 2022 11 Viewcomments Gas prices in the US reached a new record high Thursday - recording a national average of $4.589 per gallon - with analysts at JPMorgan now warning that that number could surpass the $6 mark by the end of the summer. 'There is a real risk the price could reach $6+ a gallon by August,' Natasha Kaneva, head of global oil and commodities research at the prominent investment bank, told CNN Tuesday. The concerning forecast comes as US gas prices have surged to previously unseen highs during Joe Biden's presidency. The nation's current average gasoline price, $4.58-a-gallon, stands as nearly double the $2.41 average seen during former president Donald Trump's last month in office. The number topped Wednesday's previous record of $4.567, which eclipsed Tuesday's record of $4.523, which beat out Monday's record of $4.470. Gas prices in the US reached a new record high Thursday - recording a national average of $4.589 per gallon - with analysts at JPMorgan now warning that that number could surpass the $6 mark by the end of the summer The meteoric rise - which also has been attributed as a consequence of oil producer Russia's invasion of Ukraine - has seen California already surpass the $6, recording a state average of $6.061 Thursday. Those prices have climbed since Biden was elected in November 2020, then skyrocketing earlier this year after the invasion of Ukraine, which has seen gas prices shoot up by at least 27 percent in about three months. Share or comment on this article: All rights reserved for this news site (dailymail) and under his responsibility