Pipeline hack may push US pump prices to $3 ahead of Holiday
U.S. gasoline prices may surge to their highest since 2014 even faster than previously expected as a cyberattack disrupts operations on the nation’s biggest oil fuel pipeline.
The national average stood at $2.96 a gallon Friday, according to auto club AAA. With national gasoline inventories ample, the pump price wasn’t expected to tick much higher until Memorial Day at the end of May, which is traditionally viewed as the start of the U.S. summer driving season. Gasoline last bested the $3 average in October 2014.
Price increases in road fuel may stoke even more worries about inflation as commodities from oil to lumber to corn skyrocket with the world’s major economies emerging from pandemic restrictions.
