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Gas prices could hit $5 a gallon this summer unless Hormuz flows resume, analyst says
Key takeaways
- “We are set up for a summer of pretty high prices,” CIBC Private Wealth senior energy trader Rebecca Babin told Yahoo Finance on Wednesday.
- She added, “I think we could tip up to $4.75 throughout the course of the summer driving season.
- The national US average has eased to $4.46 per gallon on Wednesday as oil prices have tumbled, down roughly $0.10 from a week ago, according to AAA data.
Gas prices could hit $5 a gallon this summer unless Hormuz flows resume, analyst says Ines Ferré · Senior Business Reporter Thu, May 28, 2026 at 12:16 AM GMT+7 2 min read RB=F CL=F BZ=F It’s going to be an expensive summer at the pump unless oil starts flowing through the Strait of Hormuz soon.
“We are set up for a summer of pretty high prices,” CIBC Private Wealth senior energy trader Rebecca Babin told Yahoo Finance on Wednesday.
She added, “I think we could tip up to $4.75 throughout the course of the summer driving season. If flows don t resume, we are 100% going to $5.”
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