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Axios
Axios
Business

High gas prices hit low-income Americans the hardest

Gas Prices Claudia Sahm
Data: U.S. Bureau of Labor Statistics via Nick Maggiulli; Chart: Erin Davis/Axios Visuals

For the highest earners, the pain at the pump is more psychological than anything else. But for lower-income Americans, high gas prices can set off a cycle of hardship.

Driving the news: The daily U.S. average national price for a gallon of regular climbed to $4.99 as of Thursday morning — a cent shy of the symbolic $5 threshold, according to AAA.

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