The National Gas Average Has Hit A Sickening New High!

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Thanks to Joe Biden’s inept leadership, a dollar worth of gas is proving money really doesn’t go as far as it used to as average prices hit a new national record high.

On Sunday, Gas prices reached a record high and are expected to continue rising as the summer months draw closer.

The American Automobile Association (AAA) reports the average price for a gallon of gasoline in the U.S. rose to $4.47. The price on Saturday was $4.452.

Tom Kloza, head of energy analysis at Oil Price Information Service, said in a statement:

“May is usually when the futures market in gasoline tends to peak. But this May has brought particular mayhem if you will.” 

Some states with higher-than-average prices include California at $5.92 a gallon, and Hawaii at $5.32. And the price hike is expected to continue rising as the energy supply crunch in the U.S. rages on.

And AAA reports the cost of diesel hit its own record high at just above $5.56.

“We’re going to see a lot of insidious inflation because we’re looking at by far the highest diesel prices ever, and by far the largest jet fuel prices ever. And that’s going to manifest itself in higher airfare and pretty much higher everything that moves across the country,” explained Kloza.

Before Russia was hit with sanctions for invading Ukraine, threatening the already tight global oil market, the national average was at $3.53, according to Andy Lipow, the president of Lipow Oil Associates. He estimated that the national average could soon surge as high as $4.50 per gallon.

According to AAA, the Biden administration canceled one of the most high-profile oil and gas lease sales pending before the Department of the Interior, as Americans face record-high prices at the pump.

High gas prices are seen in front of a medical billboard Wednesday, May 11, 2022, in Milwaukee. (AP Photo/Morry Gash)

Fox News noted:

Within his first week in office, Biden signed an executive order temporarily suspending new oil and gas leases on federal lands.

The administration resumed the new leasing last month following court challenges against the ban. The administration is appealing a ruling in which Judge James Cain, a Trump appointee, struck down the ban.

Source: FoxNews