Gas Prices May Surge Again Just Before Midterms

Washington Post: “Drivers relieved by the recent dip in gas prices may be in for a shock when the summer winds down, with energy analysts warning a fresh round of price surges could emerge as soon as October.”

“The prospect of a new gas price jolt coinciding with midterm elections has the White House and many Democrats on edge.”

“The price concerns are tied to the timeline for stricter sanctions on Russia that will further choke the global oil supply. J.P. Morgan has warned that in a worst-case scenario — in which Russia retaliates by shutting down its supply altogether — the price of oil could jump to $380 per barrel, more than triple what it is today.”