The Financial Post reports in its Saturday, May 23, edition that economist Jeff Currie of Carlyle Group warns of a potential energy crunch in the United States by July. A Bloomberg dispatch to the Post reports that gasoline stockpiles are the lowest for this time of year since May, 2014, while U.S. gasoline imports are near a decade low. Exports remain in line with seasonal averages, and refineries are prioritizing jet fuel production over gasoline. Stockpiles will tighten further, with Morgan Stanley predicting August will end at the lowest seasonal level on record. The market is "set up bullishly," says Macquarie analyst Vikas Dwivedi. He notes that while consumers are reducing spending above $4 a gallon, demand may not drop significantly if prices stay below $5 (all figures U.S.). He said: "It won't be enough to throw the market off this path. You'll feel it, but it won't be that bad." In the past four weeks, despite average gas prices of $4.32 a gallon, drivers pumped more fuel than during the same period in 2022 and 2025, when prices were lower. Instead of cancelling trips, many travellers are looking for ways to absorb higher fuel costs elsewhere in their budgets.