{"id":1491701,"date":"2022-05-25T13:15:25","date_gmt":"2022-05-25T17:15:25","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1491701"},"modified":"2022-05-25T13:15:42","modified_gmt":"2022-05-25T17:15:42","slug":"gas-prices-maintain-upward-swing-into-memorial-day-jpmorgan-predicts-6-20-per-gallon-by-august","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/gas-prices-maintain-upward-swing-into-memorial-day-jpmorgan-predicts-6-20-per-gallon-by-august\/","title":{"rendered":"Gas Prices Maintain Upward Swing Into Memorial Day, JPMorgan Predicts $6.20 Per Gallon By August"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">30<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fgas-prices-maintain-upward-swing-into-memorial-day-jpmorgan-predicts-6-20-per-gallon-by-august%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1491701&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/05\/49916443873_7c901c0301_k-e1653496454938.jpg\" class=\"ff-og-image-inserted\" alt=\"image\" \/><\/div>\n<p>Gas prices continued their record-high trends on Wednesday, <a href=\"https:\/\/gasprices.aaa.com\/\">according<\/a> to the AAA travel agency\u2019s nationwide tracker, with the national average at $4.599 per gallon, up from $4.598 on <a href=\"https:\/\/thefederalist.com\/2022\/05\/24\/biden-celebrates-record-high-gas-prices-as-incredible-transition\/\">Tuesday<\/a>. Diesel fuel remained at $5.54 per gallon, on average, with a high of $5.57 reached last week.<\/p>\n<p>While regular fuel is only a fraction of a cent higher than Tuesday, AAA\u2019s tracker shows that prices are still increasing as the nation heads into Memorial Day, traditionally the high point in gas prices for the spring season. California residents are paying the most to fill up their tanks at an average of $6 per gallon. Analysts at JPMorgan Chase <a href=\"https:\/\/www.cbsnews.com\/news\/gas-prices-could-reach-6-a-gallon-by-summer-jpmorgan\/\">predict<\/a> the nationwide average will eclipse the California price by August. <\/p>\n<p>In Japan on Monday, President Joe Biden\u00a0<a href=\"https:\/\/nypost.com\/2022\/05\/23\/biden-praises-gas-prices-as-part-of-incredible-transition\/\">celebrated<\/a>\u00a0insane gas prices as \u201can incredible transition\u201d away from fossil fuels.<\/p>\n<p>\u201c[When] it comes to the gas prices, we\u2019re going through an incredible transition that is taking place that, God willing, when it\u2019s over, we\u2019ll be stronger and the world will be stronger and less reliant on fossil fuels,\u201d Biden said.<\/p>\n<p>As the administration <a href=\"https:\/\/thefederalist.com\/2022\/03\/17\/with-push-for-electric-vehicles-democrats-pursue-the-paris-hilton-strategy-on-energy\/\">promotes electric vehicles<\/a>, which itself is a <a href=\"https:\/\/thefederalist.com\/2021\/08\/07\/bidens-electric-vehicle-plan-without-mining-expansion-is-a-big-win-for-beijing\/\">big win for Beijing<\/a>, the cost of electric cars remains prohibitively high for Americans coping with <a href=\"https:\/\/www.bls.gov\/news.release\/pdf\/cpi.pdf\">inflation<\/a> that is rising at its fastest pace in four decades. <a href=\"https:\/\/www.prnewswire.com\/news-releases\/eight-straight-new-vehicle-prices-mark-another-record-high-in-november-2021-according-to-kelley-blue-book-301442015.html\">According<\/a>\u00a0to Kelley Blue Book in December, the average price of an electric vehicle is north of $56,400. That\u2019s $5,000 more than an entry-level luxury car, which averaged more than $51,300 in November. <\/p>\n<p>Despite daily record-setting gas prices for more than two weeks straight, Biden is doubling down on a domestic energy agenda that\u2019s spiking prices at the pump and jeopardizing the power grid. Earlier this month, Biden canceled oil and gas projects in Alaska and the Gulf while the country braces for blackouts, prompted by lack of water and high temps stretching the grid beyond capacity, which could be deadly amid summer heatwaves.<\/p>\n<hr class=\"wp-block-separator\" \/>\n<p>\n  Tristan Justice is the western correspondent for The Federalist. He has also written for The Washington Examiner and The Daily Signal. His work has also been featured in Real Clear Politics and Fox News. Tristan graduated from George Washington University where he majored in political science and minored in journalism. Follow him on Twitter at @JusticeTristan or contact him at Tristan@thefederalist.com.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gas prices continued their record-high trends on Wednesday, according to the AAA travel agency\u2019s nationwide tracker, with the national average at $4.599 per gallon, up from $4.598 on Tuesday. Diesel<\/p>\n","protected":false},"author":494,"featured_media":2315279,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1491701","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1491701","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/494"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1491701"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1491701\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1491701"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1491701"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1491701"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}