Why U.S. Gas Prices Could Spike This Summer Despite a Recent Drop

Brussels, Tuesday, 16 June 2026.
Europe’s gasoline exports to the U.S. plunged to their lowest May levels since 2020, just as American inventories hit a 12-year June low. With refineries stretched thin and geopolitical tensions disrupting supply, experts warn the summer fuel crunch could push prices back above $4 per gallon—despite a brief dip following the U.S.-Iran peace deal.