by WorldTribune Staff / 247 Real News May 25, 2022
The average price for a regular gallon of gas in the U.S. hit $4.599 on Wednesday, another all-time record.
Americans can thank Bidenflation for 15 consecutive days of record high gas prices. And the price at the pump is only expected to rise higher as Memorial Day weekend approaches.
In parts of the country such as California, the average price for a gallon of regular gas went over the $6 mark this week.
Energy industry analysts warned the $6 price could be the national average before the end of the summer: “There is a real risk the price could reach $6+ a gallon by August,” said Natasha Kaneva, head of global oil and commodities research at JPMorgan. “With expectations of strong driving demand…U.S. retail price could surge another 37% by August.”
During his trip to Asia, which analysts say was a disaster for U.S. foreign policy, Biden actually praised the high gas prices.
“Here’s the situation. And when it comes to the gas prices, we’re going through an incredible transition that is taking place that, God willing, when it’s over, we’ll be stronger and the world will be stronger and less reliant on fossil fuels when this is over,” Biden said in Tokyo on Monday.
“They’re saying the quiet part out loud now. They’re causing you pain at the pump because it’s all part of their radical agenda,” said Louisiana Republican Rep. Steve Scalise.
Georgia, Kansas and Oklahoma, the last three states with an average price below $4 a gallon on Monday, all crossed that threshold in Tuesday’s reading.
Gas is being sold for more than $5 a gallon in 29 states, according to OPIS, the service that collects gas price data for AAA. Six of them, Alaska, Hawaii, Nevada, Oregon, Washington and California, have a state average above that mark. So drivers nationwide could see some stations at or near $6, even if the national average never gets that high.