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Gas prices could reach $5 this week, expert says
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Gas prices are on the road to hitting $5 per gallon by this week, according to an industry expert.
The national average retail price for a gallon of regular gasoline jumped 25 cents since Memorial Day weekend hitting a record $4.86 Monday, according to AAA.
However, the national average is likely to hit $5 per gallon this week as oil prices continue to rise and gasoline inventories sit at their lowest level for this time of year since 2014, Andy Lipow, president of Lipow Oil Associates, told FOX Business on Monday.
GAS PRICES ON THE ROAD TO $5 NATIONWIDE VERY SOON
Prices are already 59 cents higher compared with a month ago, and $1.81 more than a year ago, according to AAA.