In the USA, the average retail price of gasoline has exceeded $4.50 per gallon for the first time since July 2022.
Medianews.az reports that prices have continued to rise against the backdrop of the prolonged military conflict in the Middle East.
According to the American Automobile Association (AAA), today the national average price of gasoline is $4.54 per gallon. This is slightly lower than the all-time high of $5.01 per gallon recorded in June 2022.
The most expensive motor fuel is in California, where it has already surpassed $6 per gallon. Prices in the Midwest are rapidly increasing and in some states reach $5 per gallon.
According to "GasBuddy" (a fuel station price comparison service), the national average price of gasoline was $4.52 per gallon, while in California it averaged $6.14 per gallon.
US gasoline reserves are at their lowest level for this time of year since 2014. Morgan Stanley analysts expect them to decrease further this summer, which indicates a possibility of reaching historic seasonal lows (below 200 million barrels). Gasoline futures, which traded around $3 per gallon for much of the Middle East conflict, sharply increased in the last week of April reaching their highest level since June 2022. //Milli.Az