Exxon Mobil and Chevron executives warned the White House that gas prices could spike sharply by mid-summer as oil inventories hit dangerously low levels.

Fuel inventories that have so far helped to mitigate rising gas prices a little are running low.

Exxon Mobil and Chevron executives warned the White House that gas prices could spike sharply by mid-summer as oil inventories hit dangerously low levels.