JPMorgan Chase: The risk of gasoline prices rising to $5 is "no longer ignorable"

Analysts at JPMorgan Chase said that due to refineries sacrificing other products and prioritizing the production of aviation fuel, there is a good chance that gasoline prices in the United States could rise to $5 per gallon. Analysts led by Natasha Kaneva believe that in the regions of Asia most affected by the energy crisis, the price impact of a war with Iran is reflected more rapidly in refined products such as aviation fuel and diesel than in crude oil. They stated that if the operating rates of refineries continue to be constrained by limited crude oil supplies, fuel prices could become the "primary transmission channel for demand destruction."