Gas prices are cheaper than last summer and miles away from the nightmare of 2022
CNN
Exactly two years ago Friday, gasoline prices peaked at a record of $5.02 a gallon nationally.
Exactly two years ago Friday, gasoline prices peaked at a record of $5.02 a gallon nationally. The gas spike of 2022 crushed consumer confidence, spooked investors and put a hole in family budgets. It helped propel the national inflation rate to 9% for the first time since the early 1980s. “Five-dollar gas sent shockwaves through the system. No American outside of California had ever seen five-dollar gas before,” said Patrick De Haan, head of petroleum analysis at GasBuddy. Gas prices today are not cheap – but they are miles away from that point. The national average for regular gas stood at $3.46 a gallon on Thursday, according to AAA. Not only is that down $1.56 from the record set in June 2022, it’s down 13 cents from this point last year. “We’ve come a long way. We’re in a much healthier and balanced market than two years ago,” said De Haan.
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