Pump prices are once again flirting with all-time highs. Families, the US economy, and the White House are all experiencing inflationary pain as a result of this.
According to AAA, the national average cost regular gasoline jumped to $4.328 per gallon on Monday. That's just a smidgeon below the all-time high of $4.331 established bit March 11.
Over the last week, gas prices have risen 13 cents, putting them well above the recent low of $4.07 per gallon.
Pump prices were already high in 2022, as supply did not rebound from Covid-19 as quickly as demand. Following Russia's invasion of Ukraine in late February
On Friday, gasoline futures reached new highs. According to CNN, Andy Lipow, president of Lipow Oil Associates,
anticipates retail prices to rise another 18 to 20 cents in the next 10 to 14 days, hitting a new high of $4.50 per gallon.