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Published: Jun 07, 2022 4 min read
Gas Pum With Exclamation Marks Dripping Out Of It And A Upwards Arrow Behind It
Money; Getty Images

Gas prices just keep soaring. The national average price as of Tuesday is $4.92 — an all-time record and a major contributor to an inflation rate above 8%. Unfortunately, drivers aren’t likely to see relief anytime soon.

“After a blistering week of gas prices jumping in nearly every town, city, state and area possible, more bad news is on the horizon,” Patrick De Haan, head of petroleum analysis at GasBuddy, said in a blog post Monday. “It now appears not if, but when, we’ll hit that psychologically critical $5 national average.”

Further price increases will be driven in part by strong consumer demand — Americans are still driving despite high prices at the pump. “At some point, drivers may change their daily driving habits or lifestyle due to these high prices, but we are not there yet,” Andrew Gross, AAA spokesperson, said in a Monday news release. Limited capacity at oil refineries is also pushing up prices, as is the ongoing conflict between Russia and Ukraine.

Here are five alarming facts that show just how expensive gas is now.