Gas Prices in the U.S. Reach Historic High as Costs Surge

The average price of a gallon of gasoline in the United States (3.78 liters) has risen and for the first time in history has surpassed five dollars. This information was provided by GasBuddy, a gas station price aggregator in the U.S., as reported by RTVI.

"The worst part is that demand is not responding to the sharp increase in gasoline prices, which means there is a high likelihood of further price increases in the coming weeks," said Patrick De Haan, head of fuel market analysis at GasBuddy.

The company’s experts are convinced that the rise in gasoline prices is driven by increases in oil prices on global markets, reduced refining capacity, and Russia's ongoing military operation in Ukraine, which has led to a decrease in supply amid rising demand.