U.S. gas prices aren’t quite at record highs, if you account for inflation, but soaring oil costs could change that soon

Posted on AllSides March 10th, 2022
From The Center

On Tuesday, the price of a gallon of regular gasoline broke a 14-year record in the U.S., according to the American Automobile Association (AAA), as the national average gas price soared past its previous peak of $4.144 per gallon, set in July 2008, and continued rising to hit $4.318 per gallon on Thursday.

Russia's invasion of Ukraine has disrupted an already tight oil market, where prices have increased on the back of a post-COVID economic rebound. But calling current gas prices a “record-high” isn’t really comparing like-with-like. If you account for inflation, gas prices still have a while...

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