Gasoline prices across the United States continued to surge this week, reaching a new record-high of $5.016 a gallon on Tuesday, according to AAA, as experts warn that prices could rise further.
The national average is up from Monday’s price of $5.014 per gallon, which shattered previous records, and up from $3.080 this time last year as Americans continue to fork out more at the pump amid limited fuel supplies and increased demand.
According to data from the Energy Information Administration (EIA), total domestic gasoline stocks decreased by 800,000 bbl to 218.2 million bbl last week.
Meanwhile, demand for gasoline grew from 8.98 million b/d to 9.2 million b/d as drivers continue to fuel up their vehicles ahead of the summer period which is expected to put further pressure on demand….