Please help keep this Site Going

Menopausal Mother Nature

News about Climate Change and our Planet

Uncategorized

‘Highest Ever Recorded’: Average Gas Prices Surpass $5 Per Gallon In US

station prices

The pain at the pump continues to tick upward as the national average price of gas surpassed the $5 mark for the first time on Thursday, according to GasBuddy.com.

The average cost for a gallon of regular gas Thursday reached $5.17 in D.C., compared to $4.79 per gallon in Virginia and $4.99 per gallon in Maryland, AAA reported. [bold, links added]

The milestone comes behind months of gas price increases across the country.

The upward trend was accelerated by the rise in seasonal demand amid pandemic-related supply constraints.

GasBuddy compiled fuel price records set so far in 2022:

  • March 5: National average price of gas breaks $4/gal for the first time since 2008
  • March 7: National average price of gas breaks previous record; $4.10/gal
  • March 10: Average price of gasoline peaks at $4.35/gal
  • April 29: Average diesel prices reach a new all-time high; $5.16/gal
  • May 5: March record was broken; prices rise above $4.35/gal

And don’t expect prices to come crashing down anytime soon.

GasBuddy’s Head of Petroleum Analysis Patrick De Haan said he believes prices will continue to rise through the summer months.

With the Atlantic Hurricane season getting underway, the U.S. could be in for even bigger jumps if the right storm hits.

“And if we see a refinery outage, a refinery snag, or a major hurricane that shuts things down, it could get even uglier,” De Haan told KOKH staff.

Read rest at 7News

Trackback from your site.

Please help keep this Site Going