Gas prices increased five cents into Wednesday morning and topped a record high of $4.67 gallon, AAA data revealed.
concerns the national average price of gas could increase to $6 per gallon. California has already exceeded $6/gallon.On Tuesday, Treasury Secretary Janet Yellenduring a press interview she and the president had failed to accurately assess that inflation would climb to a 40-year-high.
A customer pumps fuel at a Wawa gas station in Annapolis, Maryland, US, on Saturday, May 28, 2022. Gas prices have jumped 40% since January, to a record of $4.59 a gallon one week before Memorial Day, the traditional start of the peak driving season. “Well, look, I think I was wrong then about the path that inflation would take. As I mentioned, there have been unanticipated and large shocks to the economy that have boosted energy and food prices and supply bottlenecks that have affected our economy badly that I didn’t — at the time didn’t fully understand,” Yellen acknowledged.Bidenflation has caused the president to become frustrated and increasingly deflect responsibility by blaming aides for not addressing the problem.
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