US retail gasoline prices hit a new record

US retail gasoline prices hit a new record 1




According to the American Automobile Association, gasoline prices in the United States have set a new record – more than $4.4 per gallon.

The average cost of a gallon of gasoline in the United States at the moment is $4.418 or $1.167 per liter. Over the past week, gasoline in the United States has risen by 4%, and compared to last year, the increase in fuel costs was a whopping 47% (in May 2021, it was a little more than $3 per gallon).

The highest price of gasoline is now in the state of California – $5,853 per gallon. It also costs more than $5 a gallon in Hawaii and Nevada. But in Georgia and Oklahoma, gasoline costs less than $4 per gallon.

Experts warn that such a high cost of gasoline will increase inflationary pressure on the American economy, where prices for consumer goods increased by 8.5% in March compared to March 2021 (this was the largest increase in the last 40 years).