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JPMorgan analyst predicts $6 gasoline for this summer

AAA Texas thinks $6 per gallon at the gas pump is unlikely in Texas but says $5 is more realistic.

HOUSTON — Gas prices continue to climb ahead of the Memorial Day Weekend. Now, some experts say as we get closer to summer, they are only going to get higher.

A JPMorgan analyst said pump prices could go up 30 percent this summer, putting the national average for a gallon of gas at more than $6.

Despite that, AAA expects three million Texans to travel for Memorial Day, instead of cancelling their plans.

They expect travelers to just adjust and use tips like using cruise control when conditions allow and finding the cheapest fuel on their Triptrik web site.

AAA Texas states they think $6 per gallon at the gas pump is unlikely in Texas but say $5 is more realistic.

According to a survey conducted by The Vacationer, nearly 54-percent of people say high gas prices are affecting their Memorial Day travel plans

"This year's summer travel forecast indicating a lot fewer people driving over two hours to get to their final destination," Patrick De Haan, head of petroleum analysis and vice-president of media relations and communications for GasBuddy, said.

On the other hand, despite high gas prices, The Vacationer reported 57 percent of the people they surveyed plan to still road trip for Memorial Day or weekend.

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