Lates News

The price of retail gasoline and diesel in the United States has risen to seasonal historical highs, becoming a major headache for consumers before summer travel. Data from the American Automobile Association (AAA) shows that the average price of gasoline this Monday was $4.12 per gallon, setting a new historical high for that date, higher than the $4.07 set on the same date in 2022. At the same time, the national average price of diesel is $5.65 per gallon, more than 60 cents higher than the historical high set in 2022. The blockage of the Strait of Hormuz has pushed up oil prices, triggering the largest inflation surge in the United States in nearly four years. The rising prices of gasoline and diesel are also spreading to ticket prices, food, and transportation costs. Since the end of February, the price of gasoline has risen by over $1.10 per gallon since the US launched strikes against Iran. US Energy Secretary Wright said on Tuesday local time that gasoline prices may remain high for "several weeks".