Veteran commodities strategist Jeff Currie says there is an “extremely high” likelihood that the average US gasoline price could reach $5 a gallon before the midterm elections. In commentary reported by Bloomberg, Currie ties the outlook to conditions affecting how refiners produce and balance gasoline versus diesel.
Bloomberg’s coverage also links the prediction to market dynamics that can tighten supply or raise consumer prices. One aspect highlighted is the operational requirement for refineries to manage product mixes, which can limit gasoline availability if diesel demand is stronger or refining constraints persist. Another cited factor is the interaction between price pressures and currency effects, described as contributing to higher gasoline costs.
Across the two Bloomberg pieces, the core message is consistent: Currie points to near-term headwinds that make a sharp rise in gasoline prices plausible ahead of the midterms. The outlets emphasize different supporting mechanisms—refinery balancing constraints in one account and scarcity alongside currency-related effects in the other—while arriving at the same directional forecast.
