'Dark clouds ahead' for global supply chain, 77% of ports face delays
Gas prices hit 7-year high amid inflation woes, supply chain fears
A recent OPEC decision 'exacerbated the upward momentum for crude oil prices,' a AAA spokesperson said
Average gas prices have hit their highest rate in seven years amid rising inflation and supply chain issues as the economy recovers from the COVID-19 pandemic.
According to AAA's average gas price calculator, the national average cost of a regular gallon of gasoline hit $3.297 on Thursday, the highest since September 2014, when the average monthly cost hit $3.387.
The U.S. Energy Information Administration reported a national average cost of $3.272 per gallon in September 2021, the highest price since September 2014, when gas cost $3.484 per gallon on average. Last week, West Texas Intermediate (WTI) crude futures, the U.S. oil benchmark, topped …
More on: www.foxbusiness.com