After several weeks of steady declines through March and April, average gasoline prices in the US have risen sharply in May. According to the US Energy Information Administration (EIA), the national average price for regular-grade gas currently stands at $4.33. That is a new record high, exceeding the previous record of $4.32 set on March 14, 2022. The news is even worse for diesel, which stands at $5.62 per gallon and yes, that's also a record high. It's 12 cents more than the previous record of $5.50, set just last week.
