In the United States, the price of petrol has exceeded $5 per gallon (3.7 liters). Rising petrol prices are pushing up inflation.
According to a foreign news agency, a gallon of petrol will sell for $5.004 in the United States from today, up from $4.986 yesterday’s price.
Rising fuel prices are causing problems for President Joe Biden and Democrats as midterm elections are scheduled for November.
To keep prices low, President Biden added hundreds of barrels of US stockpiled gasoline to the market, offered several concessions to oil companies and persuaded OPEC countries to increase oil production.
Despite all these measures, fuel prices are rising around the world because of high demand for oil and Russia is banned from selling oil due to the Ukraine war.
According to the US Department of Energy and Information Administration, the country’s daily demand for gasoline was 9.2 million barrels as of last week.