Gasoline prices in the United States continue to set new record highs. The average price at the pump for regular gas climbed to $4.593 per gallon today, according to AAA. Last week’s average was $4.432 per gallon. A year ago, it was $3.043.
Crude oil prices remain strong as a result of continued brisk demand and supply concerns resulting from the Russian invasion of Ukraine. The United States is about to enter the summer driving and boating seasons, with Memorial Day weekend a week away.
Both Brent crude and West Texas Intermediate crude were trading above $112 per barrel this morning.