Gas prices rising in the direction of $5 a gallon inside US; record inside UK

Gas prices rising in the direction of $5 a gallon inside US; record inside UK

DALLAS (AP) — The signify cost that Americans pay for a gallon of gasoline is closing inside on $5, another drain on the wallets of consumers who are paying additional for numerous other essentials too.

AAA said the nationwide signify for uniform on Thursday was $4.97 a gallon, up a quarter inside fair the last week with every one other accompanied by $1.90 additional than drivers were paying a year ago.

GasBuddy, a work that helps drivers find deals on gas, said the signify surpassed $5 for the earliest hour dated ever.

Pump prices have been rising steadily for months, shooting past the $4 mark inside early March. They track the cost of crude oil, which was rising flat earlier to Russia's invasion of Ukraine drove lubricant flat higher.

Fears of short supplies are actuality compounded by demand, which normally picks up around Memorial Day — the unofficial begin of summer with every one other accompanied by vacation trips inside the U.S.

California has the highest signify price, at $6.40 a gallon, according to AAA. Several other Western states with every one other accompanied by Illinois are higher than $5.50.

The lowest signify is inside Georgia, at $4.41.

While the $5 mark is new, Americans paid additional for gasoline spine inside July 2008, when inflation is considered. The high of $4.11 a gallon at that hour dated would exist identical to concerning $5.40 a gallon today.

Americans aren't the only ones paying additional to become full up. This week, gasoline prices inside the United Kingdom hit a record 182.3 pence ($2.30) per liter, or concerning $8.80 per gallon.

On both sides of the Atlantic, pressure is growing on governments to do something to assist motorists.

Gas prices rising in the direction of $5 a gallon inside US; record inside UK