Asia to Ramp Up Gasoline Exports to U.S. as Sky-High Prices Beckon

(Bloomberg) — The worsening gasoline crunch looks set to buoy Asian refiners — particularly those in India — as sky-high U.S. prices encourage more exports.

US pump prices have now risen above $4 a gallon in all states for the first time ever as the summer driving season approaches. JPMorgan Chase & Co. forecast this week that American gasoline could surge to as high as $6.20 a gallon by August, which would be more than double the price a year ago.