Americans will hit the road with highest fuel price since 2014 – Boston, Massachusetts

Boston, Massachusetts 2021-05-29 15:05:17 –


Americans will be out on the road this weekend at the White House, which promises to monitor fuel costs with the highest gasoline prices in seven years.

Data from the Automobile Club AAA show that the national average price for pumps reached $ 3.045 per gallon this month, the highest since 2014, only one tenth of Friday.

“The president knows that gasoline prices are a pain for Americans,” White House spokesman Jen Psaki said in a statement Friday. “President Byden opposes any proposal to raise gasoline taxes. And that’s why we keep monitoring prices, and we’re happy that Americans can get back on the road. “

Gasoline demand has returned to pre-pandemic levels as the world’s largest economy opens, and after a year of lockdown and regulation, enthusiastic drivers are on the road.

Patrick de Khan, head of oil analysis at Gas Buddy, said summer gasoline demand could average on average and exceed record levels of 10 million barrels per day for weeks. Said. If the refinery’s supply is cut off in the form of a hurricane or an unexpected power outage, prices can skyrocket.

“I’m worried that the shortage of truck drivers will make hiccups worse, slower recovery and even more impact on prices,” De Hahn said in an email.

The weekend before Monday’s Memorial Day holiday usually marks the beginning of the US driving season.

According to the US Energy Information Administration, domestic demand for gasoline, measured on a four-week average for supplied fuel, exceeded 9 million barrels per day for the first time since March last year.

It’s a time when the country’s petrol supply is straining to recover from the week-long closure of the Colonial Pipeline earlier this month. The United States’ largest fuel pipeline, which carries gasoline and diesel from the Gulf Coast to the east coast, was temporarily hampered by cyberattacks, affecting the region’s gasoline shortages.

Restoring local supply has never been as easy as resuming fuel flow. Part of the reason is the serious shortage of trucks and drivers needed to carry gas from hubs to retailers. Also, as a result of declining demand during the pandemic, refineries operate at the lowest seasonal rates in almost a decade.

In her statement, Psaki said prices were in line with recent levels, either substantially or if discounted due to inflation.

“They are actually paying more for gas than the average for the last 15 years because Americans are on the road,” she said. “They are almost in May 2018 and May 2019. I’m paying the same amount. “

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