National Average Price Per Gallon Of Gas Reaches Four-Month High

The prices are in transition from cheap winter fuel to more expensive summer fuel as traveling is expected to pick up.

Gas prices are rising nationwide.

After hitting a low of $3.07 a gallon in January, the national average climbed to $3.40 a gallon over the weekend. This marks a four-month high.

The rapid price increase threatens to set back progress on inflation and add to the financial pressure some Americans are feeling.

If prices continues to rise, it would likely cause major problems for the Federal Reserve’s tentative plan to start cutting interest rates in the coming months.

A gas price spike could also bring a negative outlook to President Biden’s economic agenda to already skeptical voters.

However, experts say there is no reason to panic over gas prices at this time.

The prices are in transition from cheap winter fuel to more expensive summer fuel as traveling is expected to pick up.