Gas Prices Surge Since Last Week
As many Americans look forward to traveling this summer, gas prices are surging around the country. The national average for a gallon of regular gas is now about $4.87, around 25 cents more than just one week ago, according to AAA. Even beyond the gas pump, the cost of travel is only going to continue getting more expensive thanks to inflation.
Prices are also likely to get higher, as crude oil costs are on the rise, sitting near $119 a barrel. Higher oil prices generally precede increases at the gas pump.
Inflation seems like it is here to stay through the summer, and it’s making Americans more pessimistic, according to a poll by NORC at the University of Chicago and The Wall Street Journal. An overwhelming majority (83%) of respondents viewed the economy as poor or not so good, while more than a third said they weren’t satisfied with their financial situation. That’s the highest level of dissatisfaction since 1972, when NORC began asking the question.
