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High fuel prices in the United States of America

2022-06-11T19:37:56.985Z


Washington, SANA- Fuel prices in the United States recorded an unprecedented rise today, due to the imposition of the new administration


Washington-Sana

Fuel prices in the United States recorded an unprecedented rise today, against the backdrop of the US administration's imposition of sanctions on the purchase of Russian oil.

And Agence France-Presse quoted the American Association of Motorists as saying in a statement today that the price of fuel exceeded for the first time the average of five dollars per gallon of premium gasoline, which is equivalent to 3.78 liters.

The data indicate that the average price of a gallon of gasoline rose by 62 percent, after recording $3.077 a year ago.

According to the sources, this increase comes after the rise in oil prices, which had collapsed at the beginning of the Corona virus “Covid 19” pandemic due to a lack of demand, but it recovered with the recovery of economic activity.

Prices have particularly jumped since sanctions were imposed on Russia, which is a major oil producer, with a barrel of crude oil currently trading at more than $120 in London and New York.

The rise in prices contributed to the general rise in consumer prices in the United States, which recorded an increase of 8.6 percent year on year in May, which is a record high in 40 years.

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Source: sena

All business articles on 2022-06-11

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