NEW YORK (AP) – For the first time in history, the national average price per gallon of gasoline exceeded $ 5.
The AAA Auto Club said the average price on Saturday was $ 5.00. Motorists in some parts of the country, especially in California, pay much higher.
The average price in the country just last week jumped by 19 cents and $ 1.93 more than last year.
There are several reasons for the rise in gasoline prices.
Americans tend to travel more since Remembrance Day, so demand is growing. World oil prices are rising, as are sanctions against Russia, a leading oil producer, because of its war against Ukraine. And in the United States there are restrictions on refining capacity because some refineries stopped during the pandemic.
Put it all together and the cost of filling will pull money out of Americans facing the highest inflation rate in 40 years.
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California has the highest average price of $ 6.43, according to AAA. The lowest average – Mississippi – $ 4.52.
Although the $ 5 barrier has been broken for the first time, this is still not a record given inflation. In July 2008, gas reached a maximum of $ 4.11 per gallon, which will be approximately $ 5.40 per gallon today.
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