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Following one-day drop, gas prices jump yet again

Following one day drop, gas prices jump back up for record-highs yet again
Following one day drop, gas prices jump back up for record-highs yet again 02:18

After a brief one-day hiatus, when costs dropped by just one-tenth of a cent, gasoline prices have yet again jumped to another record-high at an average of $6.46 per gallon. 

The increase is the 19th record-setting price in the last 20 days, which has risen by 37.2 cents in that time span.

Average prices have now climbed $2.21 since this time in 2021, 48.7 cents from a month prior, and 6.7 cents since last week, according to information from the AAA and the Oil Price Information Service. 

Based on pricing in 2021, the average American is now spending an additional $31 in 2022 to fill their tank. 

"We're already paying the summer blend gasoline, so we tend to see these prices go up this time of year," said Doug Shupe, AAA Corporate Communications and Programs Manager. "This summer it's gonna be even worse because of the really expensive crude oil prices and the global oil supply concerns."

The infamous gas station located in Beverly Grove, which has generated tons of publicity in recent weeks due to its astronomical prices, showed $7.79 for a gallon of regular gas Tuesday morning -- $1.33 over the average.

All of the increase can be attributed to the rising price for crude oil, which accounts for more than half the pump price, impacted by high global demand and the ongoing conflict between Ukraine and Russia. A single barrel of crude oil now costs around $121, a number experts suggest could rise between thirty and sixty dollars by the end of the year. 

Since the conflict began on Feb. 24, prices in Los Angeles County have seen a $1.66 markup. 

Angelenos continue to pay more than the rest of the nation, as the United States average sits at $5.02 -- a $1.93 increase from 2021.

AAA advises that drivers do a couple of things to maximize their fuel supply, including keeping tires inflated and driving the speed limit. 

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