The average price for a gallon of regular gasoline reached $5, according to fuel analyst GasBuddy.
In a news release on Thursday, GasBuddy noted that it’s the “first time ever” that U.S.-wide gas prices hit $5 per gallon.
“Gas prices have surged in recent weeks as U.S. gasoline inventories have fallen over 25 million barrels, or over one billion gallons, since the start of March amidst a global decline in refining capacity,” said the firm, noting that demand for gasoline would increase this summer.
Data released by automotive group AAA also shows that the price for a gallon now stands at $4.99, and it shows that states such as New York, New Jersey, and Ohio recently eclipsed the $5 mark….