Gasoline prices hit a record high again. The average cost of a gallon of regular fuel hit $4.374, according to data from AAA. That’s the highest ever, not adjusting for inflation, surpassing the previous record high of $4.331 a gallon set in March, soon after Russia’s invasion of Ukraine.
A year ago, gasoline prices were trading at just under $3 a gallon, according to AAA. Crude oil shot over $100 a gallon. President Biden is working on increasing oil output, but with limited success. And we’ve dipped into our emergency stockpile.