Gasoline prices in the United States hit a record high

2022-04-26 0 By

The price of crude oil soared in the international energy market on the impact of the conflict between Russia and Ukraine.The average price of regular gasoline in the United States has been rising for days, hitting a record high of $4.43 a gallon (3.8 liters) over the weekend.The national average price for a gallon of regular gasoline hit a record high of $4.43, up 79 cents, or 22 percent, in two weeks, The Associated Press reported Tuesday, citing the Lundberg Survey.The current price is up $1.54 from a year ago.The previous record for the national average price of regular gasoline was set in July 2008 at $4.11 a gallon.The San Francisco Bay Area in California had the highest average price for a gallon of regular gas at $5.79.Tulsa, Oklahoma, had the lowest at $3.80 a gallon.The national average price of diesel also rose $1.18 in two weeks to $5.20 a gallon, up $2.11 from a year ago, according to The Lundberg Survey.US President Joseph Biden on Thursday imposed an energy embargo on Imports of oil, gas and coal from Russia.Sanctions would hurt Russia, he said, but “there would be costs for the United States as well.”On the same day, the White House announced that the US government would release 90 million barrels of strategic petroleum reserves this fiscal year and increase domestic oil and gas production.The US government released 50m barrels from its strategic petroleum reserve in November in an effort to calm prices.Some market analysts believe that releasing strategic oil reserves and increasing oil and gas production will not do much to lower prices.Washington has sought to fill the gap in its domestic market by importing oil from Saudi Arabia and even Venezuela, which has been under U.S. sanctions for years.(Xinhua Micro feature) Editor/Tian Ye