City
Epaper

US national average fuel price hits new record high

By IANS | Updated: May 31, 2022 09:15 IST

Washington, May 31 The US national average price for a gallon of regular fuel hit a fresh record ...

Open in App

Washington, May 31 The US national average price for a gallon of regular fuel hit a fresh record high of $4.619, according to the American Automobile Association (AAA).

The national average gas price has increased 2.3 cents, or up 0.5 per cent from the past week, and 44.1 cents, or up 10.6 per cent from a month ago, Xinhua news agency reported citing the latest AAA data published on Monday.

The current price, which doesn't account for inflation, is way above the previous record of $4.114 a gallon set in July 2008.

As of Monday, all 50 states and the District of Columbia have average gas prices over $4 a gallon.

California has the highest prices in the country, averaging $6.153 a gallon.

The AAA said earlier that gas demand may spike during the Memorial Day long weekend, as American drivers take to the roads for the holiday.

"If demand slows again following the holiday weekend, pump price increases could be limited as crude prices remain volatile."

The West Texas Intermediate (WTI) for July oil delivery settled at $117.17 a barrel on the New York Mercantile Exchange on Monday.

The US crude benchmark has climbed roughly $41.48 per barrel, or 54.8 per cent, since the start of the year, partly driven by the Russia-Ukraine war.

The benchmark Brent-crude prices on the Intercontinental Exchange Europe have also risen over 50 per cent since the start of the year.

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Tags: AAAXinhua
Open in App

Related Stories

InternationalMajor UK Railway Stations Hit by Cyber Attack; Network Rail Suspends Wi-Fi Service

InternationalGreece braces for first summer heat wave

PoliticsSudan govt willing to work with all parties to end conflict

InternationalCyprus prepares for emergencies in face of approaching heat wave

PoliticsUkraine receives cluster munitions from US

Politics Realted Stories

NationalGujarat Cabinet Expansion: BJP President JP Nadda To Discuss Cabinet Reshuffle With CM Bhupendra Patel Today

NationalPrashant Kishor's Jan Suraaj Party Announces List of 51 Candidates for Bihar Assembly Elections 2025

MumbaiAmeet Satam Appointed As Mumbai BJP President Ahead of BMC Polls

Maharashtra'Chaddi Baniyan' Protest at Maharashtra Assembly: Opposition Stages Agitation Against Sena MLA for Punching and Slapping Canteen Staff (Watch Video)

MaharashtraMaharashtra Monsoon Session: Ajit Pawar Slams Bhaskar Jadhav Over Fund Allegations, Says 'No Need for Unsolicited Advice'