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Fuel costs hit new file excessive, analysts say get used to paying extra – New York Put up

The ongoing pain at the pump for Americans is getting even more brutal Friday — as gas prices reached a new record high.

The national average for a gallon of regular increased to $4.432, according to AAA figures.

That eclipses the previous all-time high set in mid-March when filling up tanks set drivers back an average of $4.331 per gallon nationwide.

The national average for regular gas stood at $4.418 on Thursday, the previous record high.

Friday’s new mark is roughly 15 cents more than a week ago and up from an average of $3.028 a year earlier, according to AAA data.

The cost at the pump varied widely from state to state, with the most expensive average prices in California ($5.872) and Nevada ($5.136). The cheapest gallons could be found in Georgia ($3.954) and Kansas ($3.986).

At those prices, California drivers would pay an extra $1,500 per year compared to Georgia drivers if they fill up their gas tanks every week.

The national average of regular gas stood at $4.418 on Thursday.
The national average for regular gas stood at $4.418 on Thursday.
Getty Images

The average price of a gallon of diesel also hit a new all-time high of $5.560 on Friday. That’s an increase from $5.019 just a month ago and up from $3.150 a year ago, according to AAA data.

New York’s prices on Friday had hit a record of $4.683, up more than 20 cents from a week ago and $1.60 higher than a year prior, according to AAA. Prices were way above the state average at gas stations in New York City, where one BP station in Manhattan charging credit-card prices of $6.999 for regular, $7.2999 for silver and $7.499 for “ultimate” grade.

Matthew Lee paid $29.17 for only 4.16 gallons while Staten Island resident Alvaro Gonzalez paid $104.90 for 13.98 gallons at the station, located on 23rd Street and FDR Drive.

New Jersey resident Alan Arrazcaeta, 44, paid $28.55 for 4.2 gallons – just enough to get back to the Garden State, he said.

New Jersey also hit a record high Friday of $4.502 per gallon, while Connecticut was at $4.402 per gallon – below the national average and down from its record high on Wednesday of $4.486, according to AAA.

Motorists elsewhere in the Big Apple were also feeling the pinch at the pumps, with driver Juan Munoz dishing out $140.81 to fill up his SUV with “supreme” gas at a full-service station on 51st Street and 11th Avenue in Manhattan.

The Mobil station was charging $6.199 per gallon for regular, $6.499 for extra and $6.899 for supreme.

A map shows rising gas prices across the United States.
A map shows rising gas prices across the United States.
AAA

The new high comes a day after the Biden administration canceled oil and gas sales in the Gulf of Mexico and Alaska’s Cook Inlet, dealing a potential blow to domestic fuel production.

The Cook Inlet lease sale will not move forward due to a “lack of industry interest in leasing in the area,” the Interior Department told The Post Thursday.

The agency also canceled two lease sales in the Gulf of Mexico while citing “conflicting court rulings” that impacted the proposed moves.

Energy experts are predicting gas prices will surge even higher, likely surpassing $4.50 by the end of May. A Houston-based industry consultant told CNN on Monday he expected a jump of another 18 to 20 cents over the next 10 days.

The Biden administration canceled oil and gas sales in the Gulf of Mexico and Alaska’s Cook Inlet yesterday.
The Biden administration canceled oil and gas sales in the Gulf of Mexico and Alaska’s Cook Inlet yesterday.
Getty Images

Another analyst, meanwhile, believes $5 gallon is “by no means beyond the realms of possibility,” USA Today reported Thursday.

“We should get used to higher gasoline prices,” Matt Smith of data analytics firm Kpler told the newspaper. “We shouldn’t expect to see them dropping back to $2 a gallon. Those times seem to have passed.”

Bagikan

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