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Gasoline Prices Soar to US Seasonal Record
Gasoline prices have surged to a record high for this time of year in the US, jeopardizing the fight against inflation that’s dogged President Joe Biden. Average regular gasoline now costs $3.866 a gallon, a seasonal record on a trailing-12-months basis, according to data from the American Automobile Association. Prices have risen by 7.8% in just eight weeks in a rare late-summer rally. Read More: Why Are US Gas Prices Going Up? When Will They Fall? The gains have been driven by increases in the price of oil, which jumped about 20% in the past two months. Top analysts from International Energy Agency and ... (full story)