Gasoline Prices May Have Finally Peaked ...Middle East

OILPRICE - Economy
Gasoline Prices May Have Finally Peaked
source : OILPRICE ( Middle East ) () 19
Following Russia’s invasion of Ukraine and the subsequent sanctions on Russian oil, the price of crude oil rapidly climbed above $120 a barrel. Gasoline prices — which had already been climbing since bottoming out in April 2020 — rapidly followed. For the week ending March 14, 2022, the Energy Information Administration (EIA) reported a weekly retail average gasoline prices across all grades of $4.41 a gallon. That was the highest weekly average ever reported by the EIA (but it isn’t adjusted for inflation). Previously the…

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