A gallon of gas in the US now costs $5 on average nationwide, according to AAA and GasBuddy.
JPMorgan analysts predict it could surge above $6.
With crude oil prices rising, there's little sign of relief ahead, according to analysts.
The average gallon of gas in the US has climbed to a record high of $5, according to GasBuddy and AAA.
AAA data shows the national average hit $5.004 Saturday, after hitting $4.986 Friday. All 50 states are paying more than $4.40 a gallon, and some California cities are paying above $6.40, with one city even charging about $10 per gallon. In Los Angeles, drivers have bemoaned prices topping $8 per gallon.
JPMorgan analysts forecasted that a gallon of gas could rise above $6. And there's no sign of relief at the pump in the coming months, as oil prices stay high, crude stockpiles remain low, demand ramps up over the summer, and refineries run at nearly full capacity.
In addition, OPEC+ is unlikely to stem the price-boom even though they announced a production ramp-up last week.
"So OPEC+ may be talking about higher production, but the likelihood of those barrels hitting the market via exports is pretty unlikely," Matt Smith, lead oil analyst at Kpler, told Insider earlier.
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