Dow's losing streak | Gas prices peak | $20 billion fintech deal

The biggest U.S. gasoline price surge in years is running out of steam just in time for the start of the summer driving season.

VIEW IN BROWSER | SUBSCRIBE FRI, MAY 24, 2019 EVENING BRIEF AS OF FRI, MAY 24, 2019 • 04:00 ET DJIA 25592.07 +0.40% +101.60 S&P 500 2826.63 +0.16% +4.39 NASDAQ 7637.01 +0.11% +8.73   Most Active DOW NAME LAST CHG %CHG INTC 44.57 +0.04 +0.09% AAPL 178.97 -0.69 -0.38% MSFT 126.24 +0.06 +0.05% S&P 500 NAME LAST CHG %CHG GE 9.45 -0.11 -1.15% AMD 26.44 +0.08 +0.30% BAC 28.20 +0.44 +1.58% NASDAQ NAME LAST CHG %CHG AMD 26.44 +0.08 +0.30% INTC 44.57 +0.04 +0.09% SIRI 5.41 +0.02 +0.37%   EDITOR'S NOTE The biggest U.S. gasoline price surge in years is running out of steam just in time for the start of the summer driving season. Heading into Memorial Day weekend, the national average for gas prices is coming off the year's high and sitting just above $2.80 per gallon, CNBC's Tom DiChristopher reports. The national average has climbed 67 cents a gallon from the start of the year through May 4, when pump prices peaked, according to price-tracking firm GasBuddy. That's the second biggest jump on record for the start of a year. Gas prices shot up in 2019 as oil prices rallied roughly 40% through last month, bolstered by tighter supply and better-than-expected demand. Oil accounts for 50% to 60% of gas prices. Drivers also found themselves paying more due to disruptions at the nation's refineries. Oil prices posted their worst week of the year, as the U.S.-China trade war adds to concerns about economic growth and demand for fuel. But with Middle East tensions still simmering and threatening to push up crude costs, the national average gasoline price is likely to stay near $2.80 per gallon, according to Andrew Lipow, president of Lipow Oil Associates. Kate Rooney | CNBC Markets Reporter @Kr00ney TOP NEWS  Dow heads for fifth straight negative week, longest losing streak since 2011 Three things could cause a 'second wave' in the market sell-off Global Payments is nearing an agreement to acquire Total System Services for roughly $20 billion in latest fintech deal FDA approves Novartis' $2.1 million gene therapy — making it the world's most expensive drug JP Morgan slashes second-quarter GDP forecast to just 1% Elon Musk's SpaceX raises over $1 billion this year as internet satellite production ramps up United extends 737 Max cancellations through early August as Boeing plane remains grounded Wall Street misunderstands Tesla, says analyst whose lowest price target is triple current levels Trump appeals judge's ruling that Deutsche Bank, Capital One can comply with House Democrats' subpoena for financial records Pentagon will send 1,500 troops, along with drones and fighter jets to the Middle East to counter Iran threat     TOP VIDEO Moelis CEO Ken Moelis on company outlook   SPECIAL REPORTS Buy these 2 stocks that pay you more than the 10-year yield, says expert One sector is making a comeback amid market volatility   Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2019 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS