Crude Oil Prices To Hit 7-Year High This Week With The National Gas Price Average To Increase To $3.25 This Month

The national gas price average has increased 40 percent since the start of the year, from $2.25 on Jan. 1 to $3.13 on July 6. Moreover, it is not stopping there. Motorists can expect gas prices to increase another 10–20 cents through the end of August, bringing the national average well over $3.25 this summer.

The last time crude was more than $76.40 and the national average gas price was at $3.25 was November and October 2014, respectively. Prices for crude will exceed this threshold as early as July 6 and gas prices will follow suit in coming weeks, paving the way for a very expensive peak d...