Stats and the City: Gas prices peak as the city buckles up for a pricey summer

Gasoline prices in the city have continued to climb after the Memorial Day weekend, topping $5 per gallon for the second consecutive week.

President Joe Biden told Americans last week that there was little he could do to bring immediate relief for the pain at the pump, saying, “There’s a lot going on right now, but the idea we’re going to be able to click a switch, bring down the cost of gasoline, is not likely in the near term.” 

In mid-May, JPMorgan analysts predicted that gas could reach $6.20 per gallon by the end of the summer. Biden’s remarks made the projections seem on track.


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