Why Are Gas Prices So High Economic Perspective Of The Gas prices, which have increased almost 50 percent over the past six months, are not yet at a record inflation adjusted high, though they may still get there. jpmorgan analyst natasha kaneva said. Are gas prices going down? it depends. as of july 24, 2023, the average price per gallon of gasoline [1] nationwide increased by 1.2% [2] over the past week, according to eia data. average gas prices rose by 2.3% on the east coast and by 3.4% along the gulf coast. the average price per gallon of gas declined in all other regions of the us.
Why Are Gas Prices So High Economic Perspective Of The The single biggest factor driving the spike now is the price of crude oil. as of april, according to the energy information administration, the cost of the raw material accounted for 60 percent of. The average price of regular gas in the u.s. is $3.308 per gallon, according to aaa. previous average prices: week ago: $3.361. month ago: $3.472. year ago: $3.811. gas prices surged in 2021 and. Gas prices hit a four month high at $3.31 per gallon, though the average price for a gallon of gas costs more than $3.50 in eight states. gasoline stocks in the u.s. have come down to 247. Numerous factors are pushing prices up, with regular gasoline hitting a record $4.87 a gallon monday according to aaa’s survey — up 25 cents a gallon in just the last week. gas prices were.
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