Gasoline prices seem to have leveled off in the last couple of weeks or so, but unfortunately, the price hike doesn’t seem to be over yet.
National average gasoline price per gallon on Monday night jumped about 5 cents It fell to $4.374 on Tuesday, a record high for the country with no sign of slowing any time soon.
Prior to this week, March 11 this year set a national high of $4.33 per gallon.
Tuesday’s average increased a shocking $1.407 from the national average a year ago. AAA.
Diesel also skyrocketed with a national average of up to $5.55 per gallon.
RELATED: Shell Rakes of $9.1 billion in Q1. What does rising cost of living mean?
Long lines at gas stations and unprecedentedly high prices to fill tanks have plagued Americans in recent months due to supply chain problems, inflation and fuel disruptions caused by the conflict between Russia and Ukraine.
The White House said in late March that “Russian oil on global markets comes at a cost, and Americans are seeing it at the pump.”
In April, when the US started increasing its stockpiles to fuel the market, prices temporarily (even seemed to decline) a month later, inflation appears to rise again.
In individual states, New York peaked at $4.671 per gallon on Tuesday, nearly 30 cents above the national average.
RELATED: US natural gas prices soar to highest since 2008
The states with record highs on Tuesday are Illinois ($4.693 per gallon), Oregon ($4.851), Washington ($4.871), Idaho ($4.4.84), Colorado ($4.101), Montana ($4.226), Wyoming ($4.220) and New Mexico ($4.220). is. ($4.211), South Dakota ($4.099), Texas ($4.068), Iowa ($4.083), Wisconsin ($4.177), Indiana ($4.328), Tennessee ($4.125), Kentucky ($4.096), West Virginia ($7.096), West Virginia ($198) ), Michigan ($4.346), Rhode Island ($4.413), New Hampshire ($4.342), Maryland ($4.414), Washington DC ($4.711), Hawaii $5.299, Pennsylvania ($4.541), New Jersey ($4.490) and 4.40 Delaware $4.427).
AAA spokeswoman Andrew Gross said in a statement that “more expensive oil means more expensive gasoline, as oil makes up more than half of the price of pumps.” NBC News. “These prices are approaching record highs in early March.”
With Memorial Day and the summer travel season approaching, it is clear that fuel demand will remain stagnant, let alone declining.
WTI crude oil as of Tuesday afternoon was estimated to be 99.58 per barrel.