Gas prices likely to stay high for driving season

Refiners say supplies are below normal; lawmakers feel the heat

With the summer driving season just getting under way, gasoline stockpiles are running well below normal for this time of year and prices are setting new records weekly. And until supplies catch up with demand, it’s looking like a long, hot summer of high gas prices


Those persistently high prices have sparked outrage among consumers, who have generated enough heat among lawmakers to win backing for a first-ever bill that would ban price gouging nationwide. The bill passed the House Wednesday, although it still has to pass the Senate, and the White House is threatening a veto.

Despite the record-high gas prices and the rhetoric on Capitol Hill, it’s far from clear whether any price-gouging is happening, because supplies are unusually tight.

MSNBC