The average price of regular-grade gasoline spiked 33 cents over the past two weeks to $4.71 per gallon, according to the Lundberg Survey, which comes as some analysts predict prices will climb above $6 a gallon by the end of the summer.
The Biden administration made another decision on Thursday that is sure to upset tens of millions of drivers suffering under record-high gas and diesel prices.
The national average for a gallon of diesel fuel reached it's all-time high on Monday according to the latest data from AAA that also showed unleaded gas is nearly tied with its record-high price reached earlier this spring.
The U.S. trade deficit rose an astonishing 22 percent in March to $109.8 billion as prices of oil and imported products rose due to soaring inflation, according to data released Friday by the Census Bureau and the Bureau of Economic Analysis.
America these last 14 months resembles a dystopia. It is becoming partly the world of George Orwell's Nineteen Eighty-Four, and partly the poet Homer's land of the Lotus-Eaters.
President Joe Biden promised that oil from the Strategic Petroleum Reserve would curb record-high gas prices. But some of that oil is now going to Europe.
Wholesale inflation rose 11.2% annually in March, driven largely by an increase in the price of gasoline, the Bureau of Labor Statistics reported on Wednesday.
