The average U.S. price of a gallon of regular-grade gasoline has topped $5 for the first time in history.
As of June 13, the average price stands at $5.01, according to AAA, which tracks prices. The average is as high as $6.43 in some states, including California, and as low as $4.46 in others, such as Alabama.
Gas Buddy, another tracker, says that the national average reached the $5 mark on June 9.
Either way, the price has soared since President Joe Biden took office in January 2021, and has risen by $2 a gallon from last year and about 20 cents from one week ago.
The surging prices stem in part from demand outpacing supply since people typically drive more during the summer, according to AAA spokesman Devin Gladden.
Gladden told The Epoch Times that prices are likely to keep rising, especially if the Organization of the Petroleum Exporting Countries (OPEC), a coalition of oil-producing countries, doesn’t ramp up production.
Patrick De Haan, head of petroleum analysis at GasBuddy, says the rise in prices also relates to the decline in refining capacity around the world, including in the United States, because of the COVID-19 pandemic and countries banning Russian oil amid the Russia–Ukraine war.
“It’s been one kink after another this year, and worst of all, demand doesn’t seem to be responding to the surge in gas prices, meaning there is a high probability that prices could go even higher in the weeks ahead,” De Haan said in a statement. “It’s a perfect storm of factors all aligning to create a rare environment of rapid price hikes. The situation could become even worse should there be any unexpected issues at the nation’s refineries or a major hurricane that impacts oil production or refineries this summer.”
Despite the sharp increase, there are no signs yet that drivers are driving less, according to Gladden.
However, “if prices continue to rise, it certainly could [lead to diminished demand] as prices rise to the point where people just can no longer afford gas,” he said.
The Biden administration’s focus on restricting domestic production also has played a role in the price jumps, according to some experts.
Ronna McDaniel, the chairwoman of the Republican National Committee, noted that on the campaign trail, Biden vowed to stop drilling on federal lands and “end fossil fuel.” Since he’s taken office, his administration has curbed oil drilling permits and promoted a fast transition to alternative forms of energy such as solar and wind.
“Biden promised to eliminate oil and natural gas, now families are paying the price for his anti-American energy agenda. Biden’s solution? Force Americans to drive less or buy an expensive electric vehicle,” McDaniel said in a statement. “Biden is out of touch and has no real solutions, no plan, and no sympathy for struggling families.”
The White House didn’t respond to a request by The Epoch Times for comment.
Energy Secretary Jennifer Granholm and Transportation Secretary Pete Buttigieg, both Biden appointees, last week pointed to an administration announcement that it’s working on a rule that will help build a network of chargers for electric vehicles across the nation.
“To support the transition to electric vehicles, we must build a national charging network that makes finding a charge as easy as filling up at a gas station,” Buttigieg said in a statement.
