National average price of gas breaches $5 per gallon mark for the first time in American history
06/10/2022 / By Arsenio Toledo
America is going through an apocalyptic surge in gas prices. For the first time in the nation’s history, the national average price of a gallon has breached the $5 mark.
This is according to GasBuddy, a crowdsourced real-time gas price reporting platform, which also first reported back on March 7 that America broke the previous all-time record for national average gas price when it hit $4.10 per gallon. (Related: Price of gas has more than doubled since Biden’s first day in office.)
Over the past month alone, gas prices have risen by 66 cents.
AAA, another nationally recognized tracker for the price of gas in the United States, is currently showing an average of $4.986 per gallon, or a difference of less than two cents.
According to GasBuddy’s platform, 18 states and the District of Columbia currently have statewide average gas prices above $5. California leads the pack with an average gas price of $6.389 per gallon. It is followed far behind by Nevada with a statewide average of $5.605 per gallon.
The 16 other states that charge $5 or more per gallon of gas are Illinois, Alaska, Oregon, Washington, Hawaii, Arizona, Indiana, Michigan, Ohio, Idaho, Pennsylvania, Maine, Vermont, New Jersey, Massachusetts and Utah.
Eight other states and Puerto Rico are less than 10 cents away from breaching the $5 mark. These states are led by New York and Rhode Island, which both have statewide averages of $4.995. They are followed closely behind by Puerto Rico, with a territory-wide average of $4.992 per gallon.
The six other states close to breaching the $5 marker are Maryland, New Hampshire, Delaware, Connecticut, Wisconsin and West Virginia.
Demand still going up despite high prices, signaling continued surge in prices
In a statement, GasBuddy attributed the continued price increases to high seasonal demand, supply constraints that began during the Wuhan coronavirus (COVID-19) pandemic lockdowns like the lowered capacity to refine oil into gasoline. Domestic supply constraints were never resolved by President Joe Biden, despite having the ability to boost domestic production.
“All of these factors have created an environment ripe for a surge in gas prices, while Americans balk at the prices but continue filling up as demand has seen a little decline,” wrote the organization in a statement.
Patrick De Haan, GasBuddy’s head of petroleum analysis, noted that Americans are still filling up their tanks and driving long distances despite the surging price of gas.
“It’s been one kink after another this year, and worst of all, demand doesn’t seem to be responding to the surge in gas prices, meaning there is a high probability that prices could go even higher in the weeks ahead,” said De Haan. “It’s a perfect storm of factors all aligning to create a rare environment of rapid price hikes.”
De Haan further warned that, along with demand, freak weather patterns and “unexpected issues” arising at the nation’s largest refineries could also make gas prices surge even higher.
Learn more about the surging gas prices at FuelSupply.news.
Watch this episode of “World Alternative Media” as host Josh Sigurdson talks to Tim Picciott, the Liberty Advisor, about the gas price apocalypse and what Americans can do to prepare for the coming economic collapse.
This video is from the World Alternative Media channel on Brighteon.com.
More related articles:
DISMANTLING AMERICA: Massive Texas oil refinery to shut down amid record-high gas prices.
Increased demand and inflated oil prices cause airfares to surge by nearly 50%.
American fuel prices about to breach $5 per gallon mark just as country enters summer travel season.
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chaos, Collapse, economic collapse, economic crisis, economics, economy, energy supply, fuel, fuel prices, fuel supply, gas prices, GasBuddy, inflation, products
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