
United States has surpassed the average price of gasoline for the first time in history
- the price of gasoline in the United States averaged more than $5 per gallon for the first time on Saturday, extending a boom in fuel costs that is fuelling growing inflation.
- According to AAA data, the national average price for normal unleaded gas jumped to $5.004 per gallon on June 11 from $4.986 the day before.
- High fuel prices are a worry for President Joe Biden and congressional Democrats as they try to hold on to their tiny majority in Congress ahead of the November midterm elections.
According to AAA data, the price of gasoline in the United States averaged more than $5 per gallon for the first time on Saturday, extending a boom in fuel costs that is fuelling growing inflation.
According to AAA data, the national average price for normal unleaded gas jumped to $5.004 per gallon on June 11 from $4.986 the day before.
High fuel prices are a worry for President Joe Biden and congressional Democrats as they try to hold on to their tiny majority in Congress ahead of the November midterm elections.
Read more: United States will no longer need flight travellers to take a test
Biden has used a variety of tools to try to bring down prices, including releasing a record amount of barrels from US strategic reserves, waiving limits for manufacturing summer gasoline, and pressuring major OPEC members to increase supply.
However, due to a combination of rebounding demand, sanctions on oil supplier Russia following its invasion of Ukraine, and a squeeze on refining capacity, fuel prices have been surging around the world.
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