Gas prices have reached a 7-year high at $3 a gallon and there’s no sign of it slowing down this summer.
The nationwide average price for a gallon of regular unleaded gas hit $3.09 on Monday, which is the highest price Americans have had to pay ahead of the holiday weekend since 2014, according to data from the American Automobile Association. AAA predicts that 43.6 million Americans will travel by car this weekend, which is the most so far this year. “Today, 89 percent of US gas stations are selling regular unleaded for $2.75 or more. That is a stark increase over last July 4 when only a quarter of stations were selling gas for more than $2.25,” said Jeanette McGee, a AAA spokesperson. “Road trippers will pay the most to fill up for the holiday since 2014.”
AAA says prices will likely only continue to rise through the end of the summer, with some stations in Los Angeles at around $6 last week. The high prices are due to demand as Americans are beginning to return to normal after the pandemic. In addition, there is a shortage of tank truck drivers, which has left some stations in various areas of the country short on fuel, according to Patrick DeHaan, spokesperson for GasBuddy.
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