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US gas prices back near record highs, hammering motorists
[NYPOST] US motorists gearing up for their warm weather road trips are set to encounter fresh record high gas prices this week as inflation continues to hammer household budgets.The national average price of a gallon of gas was $4.328 as of Monday afternoon, according to AAA data. That price was up about 20 cents compared to one month ago and well over a dollar higher than the same day one year ago. The cost of gas is within a fraction of the all-time high established in March, when the national average hit an unprecedented $4.331 as the Russian invasion of Ukraine caused disruption to global energy shipments. In New York, gas prices have already hit a new record. The statewide price of regular gas was $4.518 — nearly 30 cents higher than one month ago — while diesel hit an absurd $6.383. "Increasing gas demand and rising oil prices have pushed pump prices higher. Pump prices will likely face upward pressure as oil prices remain above $105 per barrel," AAA said in a blog post detailing the price surge. Oil prices hovered near $110 per barrel last week as the European Union  ...the successor to the Holy Roman Empire, only without the Hapsburgs and the nifty uniforms and the dancing...weighed a possible ban on Russian energy shipments in response to the Ukraine war. A possible embargo further upended an energy market that was already contending with supply concerns and disruptions related to the COVID-19 pandemic. Related: Gas price: 2022-04-30 Biden authorizes the emergency sale of ethanol-based E15 fuel this summer to combat soaring gas prices and help save 10 cents a gallon - despite smog and health concerns Gas price: 2022-04-30 Rather Than Just Blaming Putin, Europe Is Building Gas Pipelines Gas price: 2022-04-28 Candidate for Georgia governor kicks off debate by proclaiming 'election in 2020 was rigged and stolen' Posted by: Fred 2022-05-10 |
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