(Bloomberg) — Gasoline reached $5 a gallon or more in over a dozen US states a week into the peak summer travel season, as stockpiles of the fuel remain tight.

New Jersey, Maine and Massachusetts joined the $5 club overnight to bring the US national average pump price to a fresh record of $4.919 a gallon, according to auto club AAA. At this rate, JPMorgan Chase (NYSE:) & Co’s prediction of $6.2 gallon gasoline by August seems well within reach. 

The country’s gasoline stockpiles fell to 219 million barrels in the most recent report from the Energy Information Administration, the lowest seasonal level since 2015. Inventory levels in the Central Atlantic region, which is where regional supply can make a significant impact on New York’s gasoline futures trading, have dropped to the lowest point ever in the past year, according to data from 1993. 

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Low stockpiles have so far overshadowed slower gasoline demand growth, which lags the uptick typical for this time of year.

“I do expect consumer resistance to the high gasoline retail price to begin to evidence itself,” said John Kilduff, co-founder of Again Capital LLC. 

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