Gasoline prices break records in the USA

The price of a gallon of gasoline in the United States exceeds five dollars. In one year, the latter has increased by an average of 62%, due to fluctuating oil prices.

Regardless of its location, when it comes to fuel prices, consumers around the world are losing out in the current situation. The increase in gasoline prices in the United States is one of the many proofs.

Thereby, last June 11gasoline has taken a new step across the Atlantic. According to data from the American Automobile Association (AAA), the average price per gallon (3.78 litres) of gasoline has soared by 62% in one year. From $3,077 last year, it rose to more than five dollars on average.

This corresponds to 1.25 euros per liter. A price far from those practiced in Europe. But Americans are used to paying much less for their gasoline, because much less taxed than in our regions. Taxes are less than a dollar per gallon. When in France, they are more than two dollars (for 3.78 liters, let’s remember).

The driving season, due to the increase in the price of gasoline in the USA

Currently, two reasons make particularly increase the price of gasoline. The first lies in fluctuating oil prices. These have flared up regularly since the start of the war in Ukraine. This mechanically leads to regular price increases.

To this is now added the arrival of the driving season, specific to the United States. On the occasion of Memorial Day, holiday of homage to the soldiers fallen for the country (all the wars confused), the citizens benefit from it to leave on vacation. For this, they travel by car. Making increase demand and therefore prices.

It remains to be seen whether the price rise will subside in the coming weeks. Indeed, the OPEC+ countries (oil producers and their partners) have decided to open the floodgates and produce more, in order to lower prices. The end of the driving season could also calm things down, like falling pricesif nothing disturbs its fragile balance.

Also read on

Fuels: the State gains nothing on taxes, according to Borne

Fuel: a task force to lower prices

Why are fuel prices soaring again?

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