What’s Driving Skyhigh Gas Prices, and Is Relief in Sight?

What’s Driving Skyhigh Gas Prices, and Is Relief in Sight?
Gas prices over $7.00 a gallon displayed at a Chevron gas station in Menlo Park, Calif., on May 25, 2022. Justin Sullivan/Getty Images
Mike Valles
Updated:

If you are a driver, you have probably been unhappy about how fast gas prices are rising recently. You have probably done multiple Google searches for “gas prices near me” to find the lowest price in your neighborhood. You are probably wondering—and fearful—how high gasoline prices could go before you take your vacation and when they will come down again.

According to gasprices.aaa, the national average cost of gasoline is $4.955 (as of June 8). Just one month ago, it was $4.30—an increase of 66 cents in a month! Hopefully, gas prices will not continue to rise at this rate! Diesel fuel prices are currently about a dollar more—making it even more expensive for diesel-powered vehicles and trucks to be on the road.
Mike Valles
Mike Valles
Author
Mike Valles has been a freelance writer for many years and focuses on personal finance articles. He writes articles and blog posts for companies and lenders of all sizes and seeks to provide quality information that is up-to-date and easy to understand.
Related Topics