AAA: Fuel Prices in All 50 States Reaches $4 Per Gallon

The high cost of gas has caused many people to feel as though they’re being priced out. A recent report by AAA found that for the first time ever, an average price point across all 50 U.S states was at least $4 per gallon – with some areas hitting prices even higher than this.

With crude oil prices near $110 a barrel, and the national average gas price reaching its highest point this year so far at nearly 4$ per gallon — AAA said that refiners are switching from using winter-blend gasoline which costs less than what it takes to produce summer-blend fuel due in part because they have more demand for these products during peak seasons like holiday travel periods. The increased cost could add up depending on location; adding just 1% extra into your tank might mean spending an additional dollar.

The high cost of oil, which is used to make gasoline and other fuels for vehicles has caused prices at the pump to sky-rocket. AAA reports that this year’s annual seasonal demand dip between spring break (which happens in May) and Memorial Day, doesn’t seem to have any effect on these rising costs either.

The GasBuddy.com data shows one state, Oklahoma was still cents below the $4 average price Wednesday but it’s now crept up to be just 1 cent lower than its earlier readings from this week which means that California has overtaken them for the first place with their highest ever recorded gas purchase at $6 per gallon.

With prices for gasoline and diesel spiraling out of control, it’s no wonder that many people are wondering what to do about their fuel situation. In a recent release from GasBuddy regarding this issue as well as Russia’s reduced oil production in response to an economic crisis at home – which has left consumers without enough supply while demand continues to rebound ahead of the summer driving season-, they said “Liquid fuels have turned into liquid gold.”

Canada is not immune to the price spikes that have hit our own country, and it’s coming at a time when we need help most. The Biden administration has sought ways on addressing these issues by tapping into their U S Strategic petroleum reserve as well as waiving restrictions for selling higher ethanol E15 gas.

With gasoline inventories trending lower than one year ago, analysts say the impact of these measures may be too little to counter broader market forces.

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“The gasoline price is likely to be a major talking point this summer, with little relief coming from the sight of an above-average hurricane season. Should we see just one or two strong storms bring out refinery capacity at such times as these? No doubt it will make some difference but not nearly enough,” said De Haan.

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