Record High Gas Prices Shock American Consumers

by admin
Gas Pump

The average price of gas is $4.52 in the U.S., up 16 cents from last week. Experts predict gas prices will continue to climb throughout the year and could reach over $5.

Although the national average has been above $4 since February, some Midwest states where gas is the cheapest have remained below the benchmark until Tuesday. The cheapest state to get gas is currently Kansas.

The Russian invasion of Ukraine was the main contributing factor when gas prices reached all-time records in March, and the cost of oil worldwide remains over $100 per barrel.

The transition into summer months is already underway, and AAA said the seasonal demand dip between spring break and Memorial Day has had no effect this year.

According to Zutobi co-founder Leo Waldenback, gas prices could reach $5 per gallon this year as demand for gasoline increases and inventories continue to decline. The upcoming hurricane season could also hurt oil refinery capacity.

Waldenback said the Biden Administration and other world leaders need to produce more oil to meet demand, so gas prices will probably stay high for a long time.

California continues to have the most expensive gas in the country, at $6.05 per gallon. There are six states averaging at least $5.

Want to find out more about gas prices around the country? Check out the news outlets below for more details:

  1. Gas prices hit $4 a gallon in all 50 states for the first time  NBC News
  2. Gas prices hit record average high nationwide, above $4 in all 50 states for the first time  Fox Business
  3. Gas prices soaring across America  KHOU 11
  4. Gas Tops $4 a Gallon in Every State for the First Time  Transport Topics Online
  5. Gas prices continue to break records. How high will the cost go?  USA TODAY
  6. View Full Coverage on Google News

Elon Muir is one of the most dedicated members of the team here at The Daily Horn. He specializes in truthful, engaging reporting. Elon takes journalistic integrity seriously. Visit daily to see what he has to say.

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