The pain at the pump is not letting up this summer, with gas prices rising above $5 a gallon in several states.
The national average price for a gallon of regular, unleaded gasoline is currently at a record-breaking $4.865, according to a new report from AAA, and some analysts are predicting that the national average will soar to $6 by Labor Day.
“The pace of increase has been nothing short of astonishing,” Patrick DeHaan, an analyst for the tech company GasBuddy, told NBC’s Sam Brock.
DeHaan says that soaring demand for gas following the pandemic is partly to blame for the current high prices.
“The demand just vaporized early in 2020 due to the pandemic,” he said. “Then the economy came roaring back, and it was a game to catch up with furious increases in supply, and we’re still losing that game.”
Global supply issues are also playing a role, with the European Union sanctioning Russian oil and gas imports earlier this year following Russia’s invasion of Ukraine.
California currently has the highest average gas price in the nation, with an average of $6.341 a gallon.
Nine states, including Michigan, Indiana and Arizona, have also surpassed the $5 mark, and every state’s average is now above $4.
The state with the lowest average price is currently Georgia, at $4.292 per gallon.
- Slow down: According to AAA, fuel economy decreases at speeds over 50 mph.
- Check your tires: Fuel efficiency falls when your tires are not fully inflated.
- Pick the best day to fill up: According to GasBuddy, Mondays are cheaper than weekends for buying gas.
- Drive smoothly: Sudden acceleration and “jackrabbit” starts burn a lot of fuel.
- Keep weight to a minimum: Avoid storing any unnecessary items in your car, as the extra weight reduces fuel economy.