Gas Prices Are at an All-Time High Right Now
According to AAA, gas prices were above $5 as of Monday.
This year, inflation has impacted groceries, flight fares, and maybe most notably, fuel prices. According to the American Automobile Association's (AAA) latest report on Monday, the average gallon of gas is just over $5 nationally right now, an "all-time high" for the country.
AAA said that 21 states and Washington, D.C. were experiencing prices over $5 per gallon. To put that into perspective, the average fill-up would have cost you $3.078 per gallon last year.
"Based on the demand we're seeing, it seems high prices have not really deterred drivers," AAA spokesperson Andrew Gross said in a statement. "If prices stay at or above $5, we may see people start to change their daily driving habits or lifestyle, but it hasn't happened yet."
Last week, the association reported an average gallon at $4.865 across the US. In some regions, however, things look even worse. West Virginia saw the most significant weekly spike at 28 cents, while Montana followed shortly behind with a 27-cent increase. California, unsurprisingly, took the crown for the most expensive average, with its per gallon rate costing $6.43.
While, according to Travel + Leisure, the barrel cost is nearly double what it was in August, this economic impact extends beyond road trippers. Fuel prices are also a driving factor behind rising airfare costs.
"Jet fuel prices have almost doubled in the past couple of months. And that's really driving the price increases for airlines," United Airlines' CEO Scott Kirby said in late May. "We're in the recovery mode from COVID and you're trying to come out of what was the most devastating crisis in the history of aviation. We've got to get back… so we've at least got to recover the increase in jet fuel prices."