CNN’s Egan: ‘The National [Gas Price] Average Today Is Up to $3.60 a Gallon, That Is a Fresh Five-Month High’

EXCERPT:

EGAN: “Remember, the higher oil prices go, the more all of us have to pay for gas at the pump. The national average today is up to $3.60 a gallon, that is a fresh five-month high. That's up six cents in a week, 20 cents over the past month. And if gas prices go too high, that could also unwind some of the progress on the inflation front, and that could delay when the Fed can start cutting interest rates or even by how much the Fed cuts rates. There also could be significant political consequences here. Moody's has a model out there, a forecasting model, that finds gas prices are a key variable in the November election. How key? Well, Moody's said that if gas prices hit $4 a gallon and stay above there, that alone could be enough for Donald Trump to win the White House.”