Gas prices could remain high this fall even if crude prices stabilize. Here’s why

watch now Gas prices could remain stubbornly high even after the summer driving season ends, as the world faces a tight fuel market due to a shortfall of refining capacity caused by the wars in Europe and the Middle East. U.S. drivers could see pump prices hit a Labor Day record if Washington and Tehran do not reach an stable agreement on the Strait of Hormuz, said Patrick De Haan, head of petroleum analysis at GasBuddy. Prices set a Labor Day high of $3.83 per gallon in 2012, De Haan said. Motorists are currently paying around $4.06, down from the…