Gasoline prices could peak at $4 this summer

NEW YORK – Retail gas prices could climb as high as $4 a gallon this summer, but prices at such lofty levels will make many Americans think twice about hitting the road this summer, the Energy Department said Tuesday.

High prices and a weak economy are expected to cut demand for gasoline by about 0.4 percent during the peak summer driving season, the department


Average monthly gas prices will peak around $3.60 a gallon in June, the EIA said. However, prices could rise much higher than that at times.