Gas Prices Up As White House Vows Withdrawal from Iran Nuclear Deal

AAA predicts the national average price of gas could hit $3 per gallon this summer.

On May 14, the national average price of gas hit $2.87—up six cents over the previous week—due in part to the White House’s announcement that it would re-impose sanctions on Iran, AAA reported.

Some 36 states on Monday, May 14, were showing pump prices a nickel or more expensive compared to last Monday and 19% of stations are showing gas for $3.01 or above.

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“The Administration’s move combined with the switchover to summer blend, growing global demand and shrinking supply continues to fuel pump prices as we approach the summer driving season,” said Jeanette Casselano, AAA spokesperson. “AAA predicts that the national average may reach $3/gallon this summer, especially if crude oil prices continue to increase.”

California ($3.69) has the most expensive gas, while Mississippi ($2.56) has the least expensive gas.