U.S. Gasoline Price Surge

U.S. gasoline prices are on the rise as they surged 9.2% in January 2023, analysts said, to $3.5 a gallon ($3,785 a litre).

Gasoline in the US rose to its highest level in the history of the country in mid-June, at that time, to $5.03 per gallon, but after that prices decreased and reached $3.096 at the end of December 2022.

However, in January 2023, prices rose again as they increased by 12.9% from the level of December last year, reaching $3.5 per gallon (average), and a gallon at some stations rose to $3.89 per gallon.

Experts warn that by the spring of next year, namely March 2023, gasoline prices could rise to $4 per gallon.

Experts believed that such a sharp rise in gasoline prices could prevent the country’s authorities from effectively fighting inflation, while others pointed out that the decline in inflation in the US could be temporary.

Prior to this, US President Joe Biden tweeted that the average price of a gallon of gasoline in the US is $3.19, but the American Automobile Association (AAA) gives a very different figure, as it indicates an average of $3.8.

Source: agencies