Philadelphia (Business) - Gas prices have now reached a record high of $5 a gallon across the U.S. It doesn't seem to be slowing down anytime soon, and many citizens are concerned.
As of Saturday, June 4, 2022, the national average for a gallon of gas is a record-breaking $4.81. According to AAA, the prices have risen to five cents from Friday, 21 cents in the past week, 51 cents in the past month, and $1.77 higher than a year ago.
Many citizens across the states are concerned about the rising prices. They worry that this hike in gas prices will continue throughout the year.
In Pennsylvania, the average pump is $4.91, which is 10 cents higher than the national average and 15 cents higher than a week ago.
In New York, the average is $4.85 for a gallon of regular, self-service gasoline. In Florida, the standard is $4.75, which is 6 cents below the average but up 48 cents in the past month.
Analysts are saying the rising gas prices are due to many reasons. First, crude oil prices are at an all-time high because of the sanctions placed on Russia for the invasion of Ukraine. We are also recovering from the pandemic. The switchover to summer has not been easy. However, many are still paying skyrocketing prices to leave their homes for their desired destination.
Following Memorial Day weekend, millions of Americans hit roads with sky-high gas prices pinching their wallets.
"The gas prices are hurting our pockets, but, we need to get to places, you know." Said one citizen.
Historically, gas prices are lower following the summer driving season in the fall. But, the current ongoing war between Russia and Ukraine might cause prices to climb continuously.
Slowly, the world gets through the aftermath of the pandemic, oil demand roaring back, and the Russo-Ukrainian War. We will see an increase in travel and other everyday trips. Millions of Americans will have to budget and take short trips.
Here are a few tips for drivers trying to save money on gas this summer:
Idling can cause fuel to wash away oil which lubricates the motor and wastes gas.
You can improve your gas mileage by 10% by driving at 55mph rather than 65mph.
Avoid speeding, rapid acceleration, and braking waste gas.
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