You are currently viewing $4.37 a Gallon for Regular: Gas Prices Just Hit Record High

$4.37 a Gallon for Regular: Gas Prices Just Hit Record High

After dropping slightly last month, prices hit an all-time high on Tuesday, with Americans all over the country paying more than usual to fill up their cars.

According to the American Automobile Association, the average price for a gallon of gas in the United States hit $4.37. The cost of diesel also broke records, reaching an average of $5.55 per gallon.

Rising costs at the gas pump reflect a general price increase across most goods. This week, the Department of Labor released April’s inflation numbers and showed an increase of 8.3 percent over April 2021.

Why Gas Prices Are Increasing

There are several compounding factors behind the dramatic increase in fuel prices over the last year. Most recently, the Russian invasion of Ukraine – which prompted U.S. President Joe Biden to implement sanctions against Russian oil exporters – has driven up costs by way of decreasing supply.

While the

..... (Read more by following the post link below)

This post was originally published on this site

Also See...