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Gasoline Prices Shoot Up at Fastest Rate on Record
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As summer driving season approaches, average prices for regular gasoline have been at record highs the past two weeks after going up for 11 straight weeks. Prices reached $4.32 a gallon on March 14, according to weekly figures from the U.S. Energy Information Administration. They were $4.24 this past week, according to figures released Monday.
Those prices at the pump don’t factor in inflation, though, which reached its highest rate in four decades last month. Inflation-adjusted gas prices are at their highest levels since 2014 and similar to what U.S. drivers saw in the early 1980s.
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