Bank of America Corp (BAC), JPMorgan Chase & Co. (JPM): Three Numbers That Will Drive Stocks in June

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The cost of a tank of gas
The third figure to watch this month is the cost to fill your tank with gas. We have an abundance of oil in the U.S,. with inventories near all-time highs, but the price of gas is still up 11% in the past year.

US Retail Gas Price Chart

US Retail Gas Price data by YCharts

The good news is that production from shale is increasing supply and more efficient vehicles are keeping demand flat. If those two trends continue and refineries increase utilization heading into summer, we could see gas prices fall. That would be great news for the economy and could help fuel growth in the second half of the year. According to Gas Buddy, the average gallon of gas costs $3.64 in the U.S., so keep an eye on that figure during June.

The article 3 Numbers That Will Drive Stocks in June originally appeared on Fool.com and is written by Travis Hoium.

Fool contributor Travis Hoium has no position in any stocks mentioned. The Motley Fool owns shares of Bank of America Corp (NYSE:BAC) and JPMorgan Chase & Co. (NYSE:JPM).

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