Fuel prices in the US have reached record levels

In the US, fuel prices have soared to record levels.

This was reported by the Voice of America.

For the first time in history, the cost of fuel reached $ 5 per gallon (3.8 liters). A year ago, the average price of a gallon of gasoline in the United States was $ 3.07. Since then, its value has increased by 62%.

The publication explains that fuel prices fell in the midst of the coronavirus pandemic but later began to grow rapidly after the global economy began to recover from the crisis. The Russian invasion of Ukraine also contributed to the rise in prices. A barrel of crude oil is currently on sale in London and New York for more than $ 120.

According to government figures, rising energy prices have sparked inflation, which jumped 8.6% in May from the same period last year, a record increase over the past 40 years.

All this complicates the situation of President Biden because, in November, Americans will re-elect all members of the House of Representatives and a third of senators. Polls show that economics, inflation, and high gasoline prices are among the main problems.