Gas prices ‘likely’ to shatter record of $5.03 a gallon this summer, experts warn

Drivers could be in for pain at the pump during the busy summer travel months, with an average of $4.80 per gallon or higher expected between Memorial Day and Labor Day.

Gas prices ‘likely’ to shatter record of $5.03 a gallon this summer, experts warn. Drivers could be in for pain at the pump during the busy summer travel months, with an average of $4.80 per gallon or higher expected between Memorial Day and Labor Day. The dire forecast, from gas-tracking service GasBuddy released Wednesday, comes as the Strait of Hormuz remains shut as the US and Iran maintain a tenuous cease-fire in the Middle East. GasBuddy cautioned the national average could continue ticking up — beyond the record of $5.03 per gallon set in summer 2022 when Russia’s invasion of Ukraine rocked oil markets. Gas prices could crack $5 per gallon on average across the country this summer if the Strait of Hormuz doesn’t open. GasBuddy Head of Petroleum Analysis Patrick De Haan told The Post. “We’ll likely see record levels later this summe...