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Tags: gas prices | fuel | inflation | joe biden | environment | supply chains

For First Time in History, Gas Prices Above $4 in All 50 States

For First Time in History, Gas Prices Above $4 in All 50 States
Gas prices at a Manhattan gas station on June 1. (Spencer Platt/Getty Images)

By    |   Wednesday, 01 June 2022 06:30 PM EDT

For the first time in history, gas prices have topped $4 in all 50 states.

Prices jumped by an average of 48 cents (regular unleaded) during the month of May, leading to a record-high national average of $4.67 per gallon, according to AAA.

Amid this unprecedented surge, all 50 states now report average fuel prices exceeding $4.00 per gallon, with Oklahoma being the last state to topple the $4 mark, on average.

The state boasting the lowest unleaded gas right now? According to GasBuddy.com ... it's Georgia at $4.17 per gallon.

According to Gas Buddy, which monitors fuel trends in various markets and countries, seven states — Washington (average price: $5.23), Oregon ($5.23), Illinois ($5.24), Alaska ($5.25), Nevada ($5.32), Hawaii ($5.41), and California ($6.19) — currently report average gas prices at $5 or higher.

Digging deeper, according to the New York Post, a Chevron gas station in Los Angeles currently has unleaded fuel at $8.05 per gallon.

For that particular situation, Chevron says: "This station, along with the majority of our branded stations in California, are owned by independent businesspeople who make their own decisions about the price to charge at their stations."

Chevron also cited a number of factors for the surge pricing in California:

"Competitive conditions in the marketplace, the higher cost to produce gasoline to the specifications required by the California Air Resources Board, costs associated with fuel distribution, local, state and federal taxes, California carbon-compliance costs, recent inflationary pressures, and fixed costs of doing business."

Back in January 2021, the final month of former President Donald Trump's tenure in the White House, the average price of gas was $2.41 per gallon — with some states even reporting gas at less than $2 per gallon.

Since then, however, fuel prices have skyrocketed in America.

This current shortage mainly accounts for regular unleaded and premium gasolines; but the diesel supply is also in short stock, according to reports.

With the supply seemingly shrinking, and demand going way up, this naturally leads to higher fuel prices.

A few weeks ago, Newsmax reported that some gas stations in the Northwest were bracing for fuel prices hovering around the $10 mark, while others were concerned there wouldn't be a product to sell at the pumps.

According to AAA figures, the U.S. incurred a 35-cent increase with unleaded gas prices during April 2022. 

And for May, the $4.67 per gallon national average represents a $1.67 hike — compared to last May's national average of $3.00 per gallon.

© 2022 Newsmax. All rights reserved.


Newsfront
Gas prices in the United States jumped by an average of 48 cents (regular unleaded) during the month of May, leading to a record-high national average of $4.67 per gallon, according to AAA.
gas prices, fuel, inflation, joe biden, environment, supply chains
414
2022-30-01
Wednesday, 01 June 2022 06:30 PM
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