Twin Cities gas prices might be near a peak

Gas prices in the Twin Cities have surged nearly 40 cents a gallon in the last month, hitting $3.84 over the weekend, according to AAA.

What's happening: The heat wave that hit Texas and Louisiana slowed oil refineries down, reports Axios' Emily Peck. Refineries don't function as efficiently in 100+ degree weather.

Why it matters: The higher prices are hitting the wallets of summer roadtrippers, but also play a key role in keeping inflation levels heightened.

What's ahead: AAA said Thursday that relief may be in sight with temperatures cooling.

• "Operations are getting back to normal," said AAA spokesperson Andrew Gross. "Coupled with tepid demand and declining oil prices, this may help take the steam out of the tight supply price jolts we've seen lately."

Yes, but: Hurricane season is upon us. Severe weather could also impact refineries and push up prices.