Gas Price Rises 5 Cents Overnight to Record High $4.67/Gallon

As drivers are confronted with a 50 percent gas price increase from last year, 18 states are hovering around $5 per gallon.

JPMorgan Chase on May 18 raised concerns the national average price of gas could increase to $6 per gallon. California has already exceeded $6/gallon.

The soaring gas price has fueled President Joe Biden’s inflation.

On Tuesday, Treasury Secretary Janet Yellen admitted during a press interview she and the president had failed to accurately assess that inflation would climb to a 40-year-high.