Gas prices reach an all-time high
Average gas prices hit a record high on Tuesday; skyrocketing to the highest price AAA has recorded since it started keeping track in 2000, The Washington Post reports.
The nationwide average cost per gallon of gas has increased to $4.37, beating early March's previous record of around $4.30.
Gas prices can be difficult to predict, notes the Post, but experts say drivers can expect gas prices to continue rising throughout the summer, especially if Russia continues its invasion of Ukraine, which is one factor affecting global oil prices.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
"We're also entering the spring and summer driving season, when gas prices typically increase because of higher demand," said Devin Gladden, spokesman for auto club AAA and an adviser at the Energy Department during the Obama administration, "So we are expecting that this is going to be an expensive summer at the pump for consumers."
GasBuddy's head of petroleum analysis, Patrick De Haan, similarly told the Post that he predicts that the national average could reach $4.50 per gallon.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Anahi Valenzuela has worked as an editorial assistant at The Week since 2022, where she assists with magazine content and covers the week's best photos. She started her career as a media producer at The Daily Californian and a writer for College Magazine.
-
People of the year 2024
In the Spotlight Remember the people who hit the headlines this year?
By The Week UK Published
-
The Christmas quiz 2024
From the magazine Test your grasp of current affairs and general knowledge with our quiz
By The Week UK Published
-
Crossword: December 25, 2024
The Week's daily crossword
By The Week Staff Published
-
Judges block $25B Kroger-Albertsons merger
Speed Read The proposed merger between the supermarket giants was stalled when judges overseeing two separate cases blocked the deal
By Peter Weber, The Week US Published
-
Rupert Murdoch loses 'Succession' court battle
Speed Read Murdoch wanted to give full control of his empire to son Lachlan, ensuring Fox News' right-wing editorial slant
By Peter Weber, The Week US Published
-
Bitcoin surges above $100k in post-election rally
Speed Read Investors are betting that the incoming Trump administration will embrace crypto
By Peter Weber, The Week US Published
-
Enron mystery: 'sick joke' or serious revival?
Speed Read 23 years after its bankruptcy filing, the Texas energy firm has announced its resurrection
By Peter Weber, The Week US Published
-
US charges Indian tycoon with bribery, fraud
Speed Read Indian billionaire Gautam Adani has been indicted by US prosecutors for his role in a $265 million scheme to secure solar energy deals
By Peter Weber, The Week US Published
-
Boeing machinists approve contract, end strike
Speed Read The company's largest union approved the new contract offer, ending a seven-week strike
By Peter Weber, The Week US Published
-
US economy still strong in final preelection report
Speed Read It grew at a solid 2.8% annual rate from July through September
By Peter Weber, The Week US Published
-
Boeing machinists reject deal, continue strike
Speed Read The rejection came the same day Boeing reported a $6.2 billion quarterly loss
By Peter Weber, The Week US Published