Lexington-Fayette, Kentucky 2022-05-18 08:15:02 –
Gas prices hit record highs for the ninth consecutive day. According to AAA, the average of one gallon of regular gas rose four cents overnight and then reached a record $ 4.56 nationwide on Monday, AAA said.
Gas increased 16 cents last week, 48 cents last month, and $ 1.52 last year, according to AAA. This set of records surpassed the previous US record of $ 4.33 set on March 11.
AAA usually states that gas prices have fallen between Spring Holidays and Memorial Day, but the United States hasn’t seen it this year.
“The high cost of petroleum, the main component of gasoline, is pushing up these high pump prices for consumers,” said AAA spokesman Andrew Gross. “In the calm from Spring Holidays to Memorial Day, even the seasonal decline in demand for gasoline usually helps lower prices, but this year it has no effect.”
In some states, such as Alaska, California, Nevada, Washington, and Hawaii, the average is over $ 5 per gallon. Meanwhile, all 50 states are currently reporting average gas prices in excess of $ 4 per gallon.
Crude oil costs rose sharply from December 2021 to March 2022, rising from a low of $ 65 a barrel to a high of $ 119.
The puncture wounds that Americans feel at gas stations are shared around the world. For example, the Canadian Automobile Association reports that gas reached $ 5.90 per gallon on Wednesday. The UK reports the equivalent of $ 7.87 a gallon.
Diesel fuel continues to break records, reaching $ 5.56 per gallon on Sunday.