{"id":1513497,"date":"2022-06-13T11:34:07","date_gmt":"2022-06-13T15:34:07","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1513497"},"modified":"2022-06-13T11:34:30","modified_gmt":"2022-06-13T15:34:30","slug":"you-thought-youd-never-see-5-gasoline-but-our-new-record-has-surpassed-that","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/you-thought-youd-never-see-5-gasoline-but-our-new-record-has-surpassed-that\/","title":{"rendered":"You Thought You\u2019d Never See $5 Gasoline But Our New Record Has Surpassed That"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fyou-thought-youd-never-see-5-gasoline-but-our-new-record-has-surpassed-that%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1513497&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/06\/28253837685_2c12fec826_k-e1655128349582.jpg\" class=\"ff-og-image-inserted\" alt=\"image\" \/><\/div>\n<p>Surging gasoline prices eclipsed $5 for a gallon of regular unleaded over the weekend in a new nationwide average as Americans cope with inflation and high power prices. <\/p>\n<p><a href=\"https:\/\/gasprices.aaa.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">According<\/a> to AAA, the average price for a gallon of regular gasoline on Monday is $5.01, and $5.77 for a gallon of diesel, adding inflationary pressure to a struggling economy as costs for transportation and production spike. <\/p>\n<p>The Biden administration\u2019s response is simply to shrug, with Commerce Secretary Gina Raimondo <a href=\"https:\/\/www.cnn.com\/2022\/06\/07\/politics\/raimondo-gas-prices-white-house-cnntv\/index.html\" target=\"_blank\" rel=\"noreferrer noopener\">saying<\/a> on CNN last week, \u201cThe reality is that there isn\u2019t much more to be done\u201d on gas prices.<\/p>\n<p>In May, analysts at JPMorgan Chase <a href=\"https:\/\/www.foxbusiness.com\/economy\/gas-prices-rising-august-summer-demand-2022\" target=\"_blank\" rel=\"noreferrer noopener\">predicted<\/a> Americans will face a nationwide average of $6.20 a gallon for regular unleaded later this summer. The average in California is already $6.44 per gallon, according to AAA. <\/p>\n<p>On June 1, the official <a href=\"https:\/\/thefederalist.com\/2022\/06\/01\/americans-bracing-for-summer-blackouts-better-hope-for-tame-hurricanes\/\" target=\"_blank\" rel=\"noreferrer noopener\">start of hurricane season<\/a>, which puts a fragile power grid in jeopardy of blackouts, JPMorgan Chase CEO Jamie Dimon <a href=\"https:\/\/www.cnbc.com\/2022\/06\/01\/jamie-dimon-says-brace-yourself-for-an-economic-hurricane-caused-by-the-fed-and-ukraine-war.html\" target=\"_blank\" rel=\"noreferrer noopener\">warned<\/a> Americans to brace for an economic storm on the horizon.<\/p>\n<p>\u201cRight now, it\u2019s kind of sunny, things are doing fine, everyone thinks the Fed can handle this,\u201d Dimon said. \u201cThat hurricane is right out there, down the road, coming our way.\u201d<\/p>\n<p>On Friday, the Department of Labor <a href=\"https:\/\/www.bls.gov\/cpi\/\" target=\"_blank\" rel=\"noreferrer noopener\">revealed<\/a> that inflation is already accelerating at a four-decade-high speed. Prices are up 8.6 percent from last year, and energy prices are up more than 34. The sticker shocks have sent consumer confidence plummeting. A new survey from the University of Michigan, also out Friday, <a href=\"https:\/\/www.marketwatch.com\/story\/consumer-sentiment-plunges-to-record-low-in-june-umich-survey-11654870023\" target=\"_blank\" rel=\"noreferrer noopener\">revealed<\/a> that Americans\u2019 confidence in the economy is at a record low.<\/p>\n<p>Wednesday will mark one month since President Joe Biden\u2019s \u201c<a href=\"https:\/\/thefederalist.com\/2022\/04\/01\/joe-biden-is-doing-everything-possible-to-avoid-unleashing-american-energy-production\/\" target=\"_blank\" rel=\"noreferrer noopener\">unprecedented<\/a>\u201d release from the nation\u2019s emergency oil reserves began. To coincide with the fall midterm election, Biden ordered that 1 million barrels of oil be released from the strategic petroleum reserves every day for 180 days. Americans, however, have faced near-daily record gas prices ever since, including a two-week streak since the traditional spring peak on Memorial Day.<\/p>\n<hr class=\"wp-block-separator\" \/>\n<p>\n  Tristan Justice is the western correspondent for The Federalist. He has also written for The Washington Examiner and The Daily Signal. His work has also been featured in Real Clear Politics and Fox News. Tristan graduated from George Washington University where he majored in political science and minored in journalism. Follow him on Twitter at @JusticeTristan or contact him at Tristan@thefederalist.com.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Surging gasoline prices eclipsed $5 for a gallon of regular unleaded over the weekend in a new nationwide average as Americans cope with inflation and high power prices. According<\/p>\n","protected":false},"author":494,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1513497","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1513497","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/494"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1513497"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1513497\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1513497"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1513497"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1513497"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}