The average price for gasoline at the national level has officially shattered the old record to set a new one on Monday, overtaking a record that was set well over a decade ago back in 2008.
“The national average price of gasoline in the U.S. today broke the existing record, rewriting the all-time high to today’s $4.104 per gallon,” reported GasBuddy. “The previous all-time high was set back in 2008 at $4.103 per gallon, just ahead of the U.S. Great Recession and housing crisis.”
GasBuddy, which is a well-known platform that collects data on the price of fuel in order to help consumers save money, claimed that the price of diesel was “likely to break the record of $4.846 per gallon in the next two weeks.”
“In addition to setting a new all-time high, the national average is seeing its largest ever 7 day spike: 49.1 cents per gallon, eclipsing the 49.0 cent weekly rise after Hurricane Katrina in 2005,” stated the release from the platform. “On Saturday, the U.S. national average gas price surpassed $4 per gallon for the first time since 2008, and Friday’s spike alone came close to the record daily rise of 18 cents per gallon, increasing nearly 16 cents per gallon in one day. Diesel prices, however, did break records on Friday, as diesel soared to its largest daily gain ever: 22.2 cents per gallon, 6 cents higher than the previous record from 2013.”
The head of petroleum analysis at GasBuddy, Patrick De Hann stated, “Americans have never seen gasoline prices this high, nor have we seen the pace of increases so fast and furious.”
“That combination makes this situation all the more remarkable and intense, with crippling sanctions on Russia curbing their flow of oil, leading to the massive spike in the price of all fuels: gasoline, diesel, jet fuel and more,” he went on. “It’s a dire situation and won’t improve any time soon. The high prices are likely to stick around for not days or weeks, like they did in 2008, but months. GasBuddy now expects the yearly national average to rise to its highest ever recorded.”
This news comes in the wake of Old Uncle Joe patting himself on the back late last year for his efforts to bring gas prices down by a whopping seven cents.
“Two weeks ago, I announced new actions to help bring down gas prices,” stated Biden in a tweet. “I was in Kansas City yesterday, where the average price of gas is down 20 cents compared to a month ago. Nationally, prices are down 7 cents and falling. We’re making progress, and we’re going to keep at it.”
Two weeks ago, I announced new actions to help bring down gas prices.
I was in Kansas City yesterday, where the average price of gas is down 20 cents compared to a month ago. Nationally, prices are down 7 cents and falling.
We’re making progress, and we’re going to keep at it.
— President Biden (@POTUS) December 9, 2021