WASHINGTON – From coast to coast, gas prices continue to soar to painful new levels. American drivers are facing another record high today with the national average hitting $4.92 a gallon, and some are predicting it could reach $5 before the end of the week.
According to AAA, Tuesday's average was up a quarter from just the week before and up nearly $2 a gallon from one year ago.
Numerous factors are pushing prices up according to AAA, including the war in Ukraine, the supply chain crisis, increased demand, and less production from U.S. companies as the Biden administration's policies oppose fossil fuels and focus on green policies.
"It's hard with these gas prices going up. It's ridiculous," one driver said.
Some spots around the nation are experiencing gas prices much, much higher than even $5 a gallon. KGO-TV in Mendocino, California reports a gas station there is charging nearly $10 a gallon.
So is there any relief in sight? It doesn't appear so according to Patrick De Haan of GasBuddy, as gas prices hit new highs in the Midwest.
"Gasoline inventories in the Great Lakes are at their lowest seasonal level on record amidst still strong demand in light of high prices and low supply," said De Haan.
De Haan says the upcoming hurricane season will be key. Any hit to Gulf Coast or East Coast refineries could send prices even higher.
In Washington, the pressure is on the White House. Since President Biden took office, the national average for a gallon of regular gas has more than doubled.
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