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US Retail Gas Prices Hit Highest Level in Over a Year
Average Price per Gallon Now at $3.75
Prices Up 1.3% from Previous Week, 1.4% from Last Year
According to the latest data from the U.S. Energy Information Administration (EIA), the average retail gas price in the United States has risen to $3.75 per gallon, up from $3.71 last week and $3.70 three months ago.
The increase represents a change of 1.05% from last week and 1.30% from last year. The current price is also the highest it has been since March 15, 2023.
The EIA attributes the recent price increases to a number of factors, including increased demand as the economy recovers from the pandemic, geopolitical tensions in Europe, and rising refining costs.
The American Automobile Association (AAA) expects gas prices to continue to rise in the coming months, peaking at around $4 per gallon by Memorial Day.
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