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Goldman Sees US Gasoline Prices Climbing Back to $5 by Year-End

  • Bank sees Brent futures as high as $130 by end of this year
  • Retail gasoline prices seen climbing back toward $5 a gallon
A customer a gas station in Hercules, California.

A customer a gas station in Hercules, California.

Photographer: David Paul Morris/Bloomberg

Gasoline and oil prices should bounce back through the end of the year as the market still needs to balance rising demand and tight supplies, according to Goldman Sachs Group Inc.. 

Brent oil futures could go as high as $130 per barrel, with retail gasoline prices in the US surging back to about $5 per gallon, said Damien Courvalin, Goldman’s head of energy research in a Bloomberg Television interview.