LOS ANGELES - Gas prices are so high that demand for fuel during peak driving season this summer is expected to slump, according to experts.According to data by the Energy Information Administration compiled by Bloomberg, demand for gas has hit its lowest level during this time since 2013, excluding the impacts of the ongoing COVID-19 pandemic.
Overall, high gas prices have brought demand down by 5%.Gas prices have been hitting fresh records for the past 11 consecutive days amid the energy supply crunch in the U.S., according to the American Automobile Association (AAA), which noted that the stretch of record-high prices as the pump is "unprecedented."Speaking with Fox News Digital, Andrew Gross, the national spokesman for AAA Inc.
revealed that drivers should expect elevated prices throughout the summer, especially if the war in Ukraine rages on.The national average for a gallon of gas was $4.59 last week, a slight increase from the day before and a new record high.Thursday’s record was 16 cents higher than the week before, nearly 50 cents higher than the month before and $1.55 more compared to the same time last year.All 50 states had a national retail price over $4 a gallon on Thursday, according to AAA, with Oklahoma offering the cheapest gas at $4.03 a gallon and California offering the most expensive gas with an average of $6.06.
Tighter supply and increased demand have pushed gas prices higher, according to the association."Demand is up," Gross told Fox News Digital as he explained what is contributing to the elevated prices.President Joe Biden speaks about his administration's plan to tackle record-high inflation in remarks on May 10, 2022."Typically this time of year we are in a little bit of a lull.