Gas prices surged past $3 a gallon, the highest since late 2014, as the Colonial Pipeline shutdown squeezed supplies.
The price rise comes ahead of what is expected to be a busy summer driving season with reopenings and pent-up demand fueling consumer travel.
Mark Tepper, president of Strategic Wealth Partners, does not expect that to derail summer road trips, though.
“If you think about it, a family of four has received over $10,000 from the government over the course of the last year. Come July 1, they’re going to get $300 per month per kid, so you know an extra 100 bucks a month or so that they’ll pay at the pump is really nothing in the grand scheme of things given what’s going on right now,” Tepper told CNBC’s “Trading Nation” on Wednesday.
