Gasoline prices are rising again.
The national average price is currently $3.54 per gallon.
The price has increased by 20 cents in just one month.
The national average price of regular gasoline is more than $3.54 a gallon, an increase of more than 45% under President Joe Biden, AAA reported Wednesday.
Gasoline prices rose 20 cents ($3.34) last month, about $1 ($2.38) more than when Trump left office.
Gasoline prices remain high and could rise further due to industry and political factors. Biden’s economic war on U.S. energy independence has become a key factor amid instability in the Middle East and Ukraine.
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“There are a number of factors that are driving oil prices higher, namely the expectation that OPEC+ will continue to cut production. Tensions are also rising in the Middle East, which is also leading to higher prices,” says Ines Ferre of Yahoo News. reported on Wednesday.
Gasoline prices could exceed $4 per gallon.
The average price of gas could rise to $4 a gallon this summer, reigniting inflationary pressures and putting a strain on motorists’ wallets.
The average price of a gallon of gasoline in the U.S. has increased about 15% since the beginning of the year to $3.53, according to the American Automobile Association (AAA).
“We need to keep an eye on summer gas prices,” said Rob Summell, senior portfolio manager at Tortoise. “Some forecasts say they could exceed $4 a gallon nationally, creating inflationary pressures.” Stated.
