Gas prices have been high for much of 2022, making struggling American families struggle more.

Fuel hit an average of $5 per gallon for the first time in U.S. history earlier this summer, and has surged even higher in states like California and Hawaii. The prior record high was in 2008 during the financial crisis at $4.10 per gallon. Last week, President Joe Biden criticized oil companies, saying they had tripled their profits while families are suffering from high gas prices.

The price of crude oil is the primary reason for the spike in gas prices but there are other reasons as well, some of them being supply chain disruptions due to the pandemic, Russia’s invasion of Ukraine, and U.S. sanctions.


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