HIGHER & HIGHER: Gas prices hit $5 nationwide for first time in over 2 decades as Americans prepare for summer travel
A customer pumps gas into their car at a gas station on May 18, 2022 in Petaluma, California.There are multiple factors that are causing more pain at the pump for drivers: Sanctions placed on Russia for its invasion of Ukraine; higher fuel demand as drivers are "reclaiming their travel time" after being restricted over the past two years; and the official start of hurricane season, which could further threaten supply.
"Even just the threat of a hurricane, that can shut down crude production, particularly in the Gulf Coast, and that can also cause oil prices to rise," Gladden said.
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$5 gas is here: AAA says nationwide average hits new highNEW YORK (AP) — The nationwide average price for a gallon of gasoline has topped $5 for the first time ever. Auto club AAA said the average price on Saturday was $5.00. Motorists in some parts of the country, especially California, are paying far above that.
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$5 gas is here: AAA says nationwide average hits new highThe nationwide average price for a gallon of gasoline has topped $5 for the first time ever
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$5 gas is here: AAA says nationwide average hits new highThe nationwide average price for a gallon of gasoline has topped $5 for the first time ever.
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$5 gas is here: AAA says nationwide average hits new highThe nationwide average price for a gallon of gasoline has topped $5 for the first time in history.
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