Heading into the peak summer driving season, which kicks off on Memorial Day weekend, gasoline prices show no signs of slowing down.
The national average for unleaded gas hit a new high of $4.59 per gallon Wednesday, with all 50 states above $4 per gallon, AAA data shows. Gas prices are now $1.56 more than a year ago and $1.05 more than they were when the war in Ukraine started in February, according to AAA spokesperson Andrew Gross.
“That sent shock waves through the oil market that have kept oil costs elevated,” he said. “Domestically, meanwhile, seasonal gas demand is rising as more drivers hit the road, despite the pain they face paying at the pump.”
Although higher prices may prompt…
Source cnbc.com