INDIANA – Prices at the pump are rising, and industry experts anticipate they will keep going up in the coming weeks and months — especially if Russian oil facilities continue to get hit by drone attacks.
This is an unwanted development for consumers heading into spring. According to CNN, it’s also a problem for White House and Federal Reserve officials hoping to declare victory over inflation.
According to AAA, the national average price for regular gas climbed to $3.48 a gallon today, up by 40 cents since mid-January. That’s up from $3.45 a year ago, the highest price since Halloween.
According to AAA, the highest recorded price for unleaded gas was in June of 2022, when a gallon averaged $5.02.
The national average has jumped by seven cents in the past week and 19 cents over the past month. Gas prices are up by 40 cents since mid-January.
Although the US is pumping more oil than any country in history, this marks the first time since late last year that US gas prices are higher on a year-over-year basis.
