Gas prices are going up.
The current national average gas price is $4.77 a gallon, up 25 cents from a week ago, according to a report by the American Automobile Association. The price of gas was 59 cents less a month ago.
Nine states and the District of Columbia have an average gas price of $5 a gallon or more. Georgia has the lowest gas prices in the country.
Oil analyst Andy Lipow told CNN national gas prices can reach an average of $5.05 a gallon in the next 10 days.
The national average gas price could reach $6.20 a gallon by August due to demand from drivers traveling this summer, according to a note from the head of commodities research at JP Morgan.
The price of gas is affected by the price of oil.
When demand for fuel was low, some companies closed unprofitable refineries. As demand for fuel increases again, oil refineries in the US are not able to make enough fuel. Rob Smith, director of global fuel retail at S&P Global, told the Houston Chronicle that the price of fuel would still be high even if those refinery were still open.
As the EU imposes sanctions on Russian oil imports, the Organization of the Petroleum Exporting Countries said it would increase oil production. A ban on Russian oil imports to the EU will be in place by the end of the year. Russia's oil imports have been banned by the US and the UK.
The reopening of public transportation in China will likely lead to more demand for oil, as well as drive up the price of oil, which is currently around $120 a barrel.
The chief economist at Moody's said in a phone interview that the US would go into a recession if oil prices went to $150 a barrel.