The average price for a gallon of gasoline in the United States hit a new record high on Tuesday at $4.62 a gallon, according to data compiled by the American Automobile Association (AAA). That’s up from $4.178 a month ago and around 52% higher than a year ago. President Biden has promised to do everything in his power to lower the price of car food, including by releasing millions of barrels of oil from the Strategic Petroleum Reserve. Still, the price of liquid gold has continued its inexorable rise. The state where gas is most expensive is California, with averages prices now topping $6 a gallon – the first time ever that benchmark has been reached. As of Sunday, Californians were paying on average $6.139 per gallon. Industry analysts have blamed the soaring cost of fuel on tight supplies, volatile crude oil markets, and the Russian invasion of Ukraine. (YWN World Headquarters – NYC)
The post THE RISE CONTINUES: Gas Prices Hit Fresh Highs, Guzzling Americans’ Money appeared first on The Yeshiva World.