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The
average price of a gallon of gasoline climbed to $4.62 a gallon
Monday, up about a penny from Sunday and $1.58 higher than last
Memorial Day, when the average cost was $3.04.
Many observers say the cost has yet to peak and expect only
higher prices as summer wears on.
"The summer driving season is here! With it, the most expensive
#gasprices we’ve ever seen on a Memorial Day: $4.60/gal, and
we’ll likely make a run to $4.75/gal in the next couple weeks
barring any major change," GasBuddy's Patrick de Haan tweeted. "Est[imated]
odds of reaching a national of $5/gal this summer: 65%."
Earlier in May, the average cost of gas hit a new record high
every day for two consecutive weeks.
The average cost of a gallon of diesel fuel was $5.52 Monday.
Diesel powers the semis that truckers drive to transport food
and other consumer goods across the country, contributing to
40-year-high inflation.
In seven states, all but one out west, the average price of a
gallon of gasoline is at least $5 a gallon. Illinois is the
non-west outlier, with the average price on Monday at $5 a
gallon (rounding up from $4.996).
In California, the average price of a gallon of regular gasoline
reached $6.15, highest in the U.S.
Dan
McCaleb is a veteran editor and has worked in journalism for
more than 25 years. Most recently, McCaleb served as editorial
director of Shaw Media and the top editor of the award-winning
Northwest Herald in suburban Chicago.
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