Prices at the pump reached a new record high on Monday, the same day that President Joe Biden spoke about the United States and the world’s “incredible transition” away from fossil fuels.
The new national average is slightly below $4.60 a gallon, the highest average ever reported by the American Automobile Association’s (AAA) gas price tracker.
In all 50 states, the average price of gasoline exceeds $4. In an interview with a local Fox affiliate, Energy Secretary Jennifer Granholm stated that it will likely remain there ‘throughout this year.’
In addition to coping with increased costs, the White House is also prepared for volatility in diesel fuel prices, which reached a record high last week.
An administration official stated that the administration is considering declaring a state of emergency in order to release diesel from a seldom-used stockpile in an effort to alleviate a severe supply shortage and halt price increases.
Already on the rise as the economy recovered from the COVID-19 epidemic, fuel prices surged earlier this year when Russian President Vladimir Putin’s invasion of Ukraine disrupted the global energy supply chain.