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The price of a gallon of regular gasoline reached a historic milestone over the weekend and continues to rise.
The price on Sunday morning rose to $ 5.01, according to AAA.
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Gasoline hit the $ 5 mark on Saturday morning for the first time as part of a record.
The average price rose 18 cents the previous week and was $ 1.92 more than at this time last year.
GAS PRICES REACH $ 5 ALL OVER THE COUNTRY FOR THE FIRST TIME IN MORE THAN 2 DECADES
There is very little evidence that the price will fall soon.
Gas pump filling nozzles. Close-up of fuel at the gas station (iStock / iStock)
The cost of energy has been a major component of the highest inflation the United States has seen in 40 years.
It may be hard to remember, but in April 2020, gas prices fell to $ 1.80 a gallon, pushed down by the coronavirus pandemic, according to government figures.
THE “LLETY” INFLATION REPORT COULD PUT ON THE TABLE THE HEIGHT OF FEDI TIUS OF 75 BASIC POINTS
A year later, the price reached $ 3 and exceeded $ 4 this March.
State averages have ranged from $ 6.43 a gallon in California to $ 4.52 a gallon in Mississippi.
World oil prices have risen since December. The price of international crude has roughly doubled in this time, with the US benchmark closing on Friday at more than $ 120 a barrel.
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The Russian invasion of Ukraine and the consequent sanctions by the US and its allies have contributed to the increase.
The Associated Press contributed to this report.