US Gasoline Tops $5 a Gallon on Average in New Inflation Marker
- Gasoline demand highest since December with Memorial Day boost
- Biden chastises oil majors as high prices cause election peril
Fuel prices at a gas station in San Francisco, California, US, on June 9.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Gasoline topped an average of $5 per gallon in the US for the first time, signaling the latest pain point for American consumers and President Joe Biden’s efforts to curb inflation.
Demand has jumped to the highest level this year, just over a week into the peak US driving season. Pump prices rose to $5.004 a gallon early Saturday in a rally that began in mid-April, according to auto club AAA. In California, the most expensive state to fill up, prices are as high as $6.43 a gallon.