Gas Prices Headed for $5 a Gallon

Nate Silver: “According to the AAA, average retail gas prices in the U.S. are now $3.45 per gallon, up about 50 cents from a week ago. However, the problems are likely to worsen significantly as supply chains are disrupted. Traders at Polymarket anticipate that the most likely range for gas prices to land by the end of March is between $4.50 and $5.00. And although there’s a wide range of uncertainty, there’s a 41 percent chance they exceed $5.00 by the end of the month.”

“Americans are used to gas price fluctuations, but it’s not all that common for prices to go quite this vertical in the span of a month.”