{"id":10323,"date":"2022-03-18T19:24:04","date_gmt":"2022-03-18T19:24:04","guid":{"rendered":"https:\/\/tahrir2day.com\/news\/2022\/03\/18\/u-s-gas-prices-ease-back-from-record-high\/"},"modified":"2022-03-18T19:24:04","modified_gmt":"2022-03-18T19:24:04","slug":"u-s-gas-prices-ease-back-from-record-high","status":"publish","type":"post","link":"https:\/\/tahrir2day.com\/news\/2022\/03\/18\/u-s-gas-prices-ease-back-from-record-high\/","title":{"rendered":"U.S. gas prices ease back from record high"},"content":{"rendered":"
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Americans are getting some relief from bomb prices, even as oil rises again above $ 100 a barrel. <\/p>\n

Fuel costs rose to an all-time high last week as Ukraine<\/span> The war raised concerns that the conflict could disrupt the supply of oil from Russia, which represents about 12%<\/span> of the world crude oil market.<\/p>\n

Gasoline prices averaged $ 4.27 per gallon on Friday, down from a high of $ 4.33 on March 11, according to AAA. That price last week broke the previous high of $ 4.10 in 2008.<\/p>\n

Patrick De Haan, head of oil analysis at GasBuddy, expects gas prices to continue to fall. However, rising costs have not yet stopped motorists. He pointed out in a tweet<\/a> that gas demand in the US this week through Thursday is up 1.4% and is at its highest point since mid-December.<\/p>\n

Gas prices are directly related to global supply and demand. After sinking below $ 100 a barrel<\/span> Earlier this week, both international and U.S. benchmarks rose to $ 107.49 and $ 104.55, respectively, according to Bloomberg. But that’s less than $ 130 last week amid hopes that recent talks between Russian and Ukrainian leaders could lead to a ceasefire.<\/p>\n

Gas prices have been rising steadily for almost two years, driven by several factors<\/span>. Most importantly, the demand for fuel between drivers and businesses recovered quickly afterwards COVID-19[feminine[feminine<\/span> exploded in the United States in March 2020. One year after the crisis, the average price stood at $ 2.82, 45% more than its pandemic low. <\/p>\n

By December 2021, gas had risen to $ 3.40 amid a wider explosion of inflation that also increased the cost of food, rent, clothing and many other goods. <\/p>\n

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