JP Morgan expects gasoline prices at US gas stations to jump 37% in August.

US fuel prices are expected to average $6.20 per gallon, the bank said; Due to the strong demand for driving.

The US Bank's Global Commodities Research Unit stated that they expect US refiners' consumption of crude to reach a peak of 16.8 million barrels per day in August, which means that refineries American refiners will produce about 8.2 million barrels per day of gasoline.