USA Gasoline Price Hits New Record

The average price of regular gasoline in the U.S. hit a new record of $4.37 per gallon on Tuesday, according to the AAA gas prices website.
The site’s previous highest recorded average price for regular gasoline in the U.S. was $4.33 per gallon, which was seen on March 11.
Yesterday’s average price of regular gasoline in the U.S. came in at $4.32 per gallon, the week ago average came in at $4.20 per gallon, and the month ago average came in at $4.11 per gallon, the AAA website outlined. The year ago average is shown to have been $2.96 per gallon.
“The price of oil is the main driver behind this price increase,” AAA Federal Affairs Manager Devin Gladden told Rigzone, commenting on the new price record.
“Crude prices started spiking last week after the European Union announced its proposal to ban Russian oil imports,” Gladden added in the statement.
According to the AAA site, California has the highest average price of regular gasoline in the country as of May 10, coming in at $5.84 per gallon. The highest recorded average price for regular gasoline in the state is $5.91 per gallon, which was reported on March 29.
A White House statement released on May 10 outlined that the Biden administration was “addressing Putin’s price hike at the pump” through a range of actions. These included releasing one million barrels of oil per day from the Strategic Petroleum Reserve for the next six months, rallying allies to release an additional 60 million barrels of oil from other countries’ reserves, allowing E15 gasoline to be sold this summer, and calling on Congress to make companies pay fees on idled wells and non-producing acres on Federal lands.
The AAA gas prices site describes itself as a public service of the United States of America’s largest motoring and leisure travel membership organization. It is updated daily.
To contact the author, email andreas.exarheas@rigzone.com
What do you think? We’d love to hear from you, join the conversation on the
Rigzone Energy Network.
The Rigzone Energy Network is a new social experience created for you and all energy professionals to Speak Up about our industry, share knowledge, connect with peers and industry insiders and engage in a professional community that will empower your career in energy.
- The Gulf of Mexico Has a Pirate Problem
- Gulf of Mexico Hurricane Season Looming Large
- US Shale Operators Not Capitalizing On High Crude Prices
- Goldman Says Iran Nuclear Deal Is Unlikely
- BP Suspends Shah Deniz Platform For Two Weeks
- Santos Investing $2.6Bn In Pikka Oil Project In Alaska
- OPEC Chief Sees High Risk of Oil Squeeze
- California Desert Sunlight Battery Energy Storage System Unleashed
- Greenpeace Blocks Vessel Carrying Scarborough Pipes
- African LNG Could Fill European Demand Gaps For Natural Gas
- 88 Energy Makes 1 Billion Barrel Oil Announcement
- Oil Outages in Gulf of Mexico Straining Tight Market
- The Gulf of Mexico Has a Pirate Problem
- Gulf of Mexico Hurricane Season Looming Large
- Goldman Sees USA Gasoline Prices Climbing Back to $5
- Gazprom-Iran $40Bn Deal Faces Issues Over Corrosion And Sanctions
- Inflation Reduction Act Could Result In More Energy Service Inflation
- Cheap USA Oil Undercuts Middle Eastern Crude
- Big Oil To Go Deep Into Trillion-Dollar Offshore Wind Industry
- Oil Price Rally Explained
- 88 Energy Makes 1 Billion Barrel Oil Announcement
- Over A Quarter Of Turbines Installed On Formosa 2 Wind Farm
- Saudis to Hike Oil Price to Record
- Pantheon Hits Multiple Oil Reservoirs At Second Alkaid Well
- Analyst Gives Year-End Oil Price Warning
- Guyana Just Keeps On Giving As Exxon Makes Two More Discoveries
- American Drivers Grab $3.11-a-Gallon Gas in Mexico
- Guyana Going Big League With O&G Revenues To Pass $1 Bn In 2022
- Brage Well Comes Up Dry
- U.S. Crude Oil Exports Add $161 Bn To GDP Since Ban Lift