US Gasoline Prices Rise to Highest Level Since August 2022

Gasoline prices in the United States rose over the past 24 hours to $4.18 per gallon (approximately $1.1 per liter), marking the highest level since August 2022, according to data from the American Automobile Association. As CNN reported, the price increased by about 6 cents over the past day, representing the largest single-day rise in the past five weeks. It is noted that the increase in oil futures prices indicates that gasoline will continue to become more expensive for US consumers. The highest price was recorded in the state of California, where the cost of a gallon of gasoline reached $5.96. CNN recalls that gasoline prices in the United States had been declining for two weeks following the announcement of a ceasefire in the conflict with Iran in early April; however, amid stalled negotiations, fuel prices have begun to rise again. According to a forecast by the US consulting firm Lipow Oil Associates, the average nationwide gasoline price may increase to $4.30 per gallon within the next week to 10 days.