Inflated U.S. price of gas recently jumped by 6 cents per gallon to $3.31

The average U.S. price of regular-grade gasoline jumped 6 cents over the past two weeks, to $3.31 per gallon.

That’s $1.07 more than a year ago.

Industry analyst Trilby Lundberg of the Lundberg Survey said Sunday the rise comes as the cost of crude oil increases and demand goes up in Europe, where refineries are switching from burning gas to oil-based fuels.

Nationwide, the highest average price for regular-grade gas is in the San Francisco Bay Area, at $4.55 per gallon. The lowest average is in Houston, at $2.77 per gallon.

According to the survey, the average price of diesel jumped 11 cents to $3.45 a gallon.

In California overall, the average price per gallon has climbed to $4.44, according to AAA.

Last winter, President Joe Biden ordered  the secretary of the Interior Department to halt new oil and natural gas leases on public lands and waters, and begin a thorough review of existing permits for fossil fuel development.  Household heating this winter is expected to double.

In addition to the pause on leasing, Biden will direct the federal government to conserve 30% of federal lands and water by 2030 and find ways to double offshore wind production by that time.

“Penalizing the oil and gas industry kills good-paying American jobs, hurts our already struggling economy, makes our country more reliant on foreign energy sources, and impacts those who rely on affordable and reliable energy,” Anne Bradbury, president of the American Exploration and Production Council, said in a statement

 

Source: AP News

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