Pump Prices Up For Fifth Straight Day

Cost of regular gasoline started increasing last week, with average price Sunday at $3.417 a gallon, according to AAA.
HOUSTON, TEXAS - FEBRUARY 01: An ExxonMobil gas pump is seen on February 01, 2022 in Houston, Texas. The energy giant announced on Monday that it will be relocating its headquarters from Irving, Texas to north of Houston in the Spring area. ExxonMobil said in a statement that the move is scheduled to be completed by mid-year 2023. (Photo by Brandon Bell/Getty Images)

At a glance

  • Gasoline prices started ticking up after declining for nearly 100 straight days during summer driving season.
  • Price started increasing shortly after pandemic declared in March 2020 and spiked after start of Russia’s invasion of Ukraine in February.
  • Invasion resulted in a global increase in cost of energy, with Russia supplying much of it to Europe.
  • Declining prices last month helped hold down overall U.S. inflation numbers.

 

 

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