Retail gasoline prices have risen by a dollar over the past 12 months as the economy began to reopen, increasing the demand for fuel. Higher gas prices are now crimping consumer budgets and putting a brake on household spending on non-energy items, according to analysts.
Prices at the pump have soared to $3.20 per gallon for regular gasoline as of Oct. 5, which is slightly more than a dollar higher than they were in October 2020.
