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U.S. Average Gasoline Price Hit $4 a Gallon

Will this presidential election be the most important in American history?

The U.S. average gasoline price hit $4 a gallon over the weekend which is the highest since 2008, according to AAA.

The surge in price is tied to Russia’s invasion of Ukraine resulting in the price of crude oil going over $110 a barrel.

An oil analyst quoted in The Daily Mail predicted the average cost of gasoline in the U.S. will surge higher to “… $4.50 a gallon as supply disruptions ripple across the energy complex.”

The Daily Mail included graphs to show the surge in gasoline prices over the years.

Of course, there are many areas around the country where gasoline prices exceed the national average.

Social media is filled with pictures of gasoline pumps with sticker-shock prices.

CBS News in Los Angeles reported some people in California are paying an extra $20 to fill their tank.

In Los Angeles County, drivers are paying an average of $5.25 per gallon, another increase over the record set on Friday. In fact, it was the 27th record set for average gas prices in the last 29 days in the area. One gas station in Beverly Center even showed an astounding $6.95 per gallon of unleaded regular gas, and $7.55 for premium gas.

Surging gasoline prices drain the purchasing power of hard-working American families and it’s especially punishing for low- and fixed-income households.

In New York, the price per gallon has gone up 40 cents in less than a month.

The surging price of gasoline and its impact on Americans is the reason why President Biden has not blocked oil imports from Russia since the decrease in supply would boost prices higher.

Tom Borelli

Dr. Tom Borelli is a Newsmax TV contributor and radio commentator addressing political issues from a conservative grassroots perspective. As a columnist, he has written for The Washington Times and authored articles for Newsmax Magazine, Newsmax Insider and previously was a co-host with his wife Deneen Borelli on the SiriusXM Patriot channel. Dr. Borelli appeared on numerous television programs, including the highly ranked Fox News Channel’s “The O’Reilly Factor,” “Hannity,” “The Kelly File," and "America’s News Headquarters." He has also appeared on Fox Business Network’s “Making Money with Charles Payne” and “After the Bell” as well as TheBlaze TV’s "The Glenn Beck Program" and "Dana!" Prior to working for public policy organizations, Dr. Borelli was a managing partner with the investment advisory firm of Action Fund Management, LLC and a portfolio manager for the Free Enterprise Action Fund (FEAF) where he used shareholder activism to challenge corporations that sought to profit from the growth of government. During his 25 years with the Altria Group, Inc., he built a foundation in public policy and issues management, drawing from diverse experiences ranging from basic research to corporate affairs. Dr. Borelli served as science fellow for the U.S. House of Representatives' Committee on Science, Space, and Technology during the 100th Congress. Dr. Borelli has also published scientific papers on interferon and human leukemia.

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