Gas prices hit nearly $7 a gallon right above the U.S. border, as Americans face their own price jolts amid lingering high inflation and economic uncertainty.
In a new social media post on X (formerly Twitter), user @Bratt_world revealed the sky-high prices in Surrey, British Columbia, at 2.45 Canadian dollars ($1.78) a liter. That translates to about $6.75 a gallon.
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Surrey is just a few miles from the border of Washington, where gas prices are $4.67 per gallon on average, according to the most up to date American Automobile Association tracker. Nationally, Americans are forking out over an average of $3.67 for gas, making Washington and Surrey prices higher than most, but reflective of a nationwide fuel crisis.
"Gas prices are on the rise and sadly aren't likely to come back down any time soon," Alex Beene, a financial literacy instructor at the University of Tennessee at Martin, told Newsweek.
The surge in prices comes down to various factors, but the conflict in the Middle East continues to play a key role in creating volatility in the oil market, Beene said.
Gas prices also tend to soar in the summer, regardless of global events due to the type of gas distributed.
"There's also the seasonal switch from a cheaper to a more expensive blend of gas that's distributed in the summer that causes a jump in fuel prices every spring and summer," Beene said. "The combination of both are leading to a significant jump in prices that consumers are already feeling."
Still, gas prices aren't consistently brutal all across the United States. Texas residents, for instance, see some of the lowest gas prices at $3.28 on average, while California and Hawaii see some of the highest, at $5.45 and $4.78, respectively.
"Some states and parts of Canada had additional taxes on fuel come into effect earlier this year, and that only adds to the dollar amount people are seeing at the pump," Beene said. "It's a perfect storm of problems that are escalating prices."
Cutler Cleveland, a professor at Boston University's Department of Earth & Environment and the associate director at the Institute for Global Sustainability, said generally the price at the pump tracks the cost of crude oil, which has risen from roughly $70 to $90 in recent weeks amid Middle Eastern tension, but this doesn't fully explain the seasonal shift.
"Driving increases as the weather warms," Cleveland told Newsweek. "In the Northeast and mid-Atlantic states, retailers shift to blends of gasoline that reduce air pollutants that are more hazardous in warmer weather. Cleaner blends are often more expensive."
Looking ahead, summer gas prices will factor in an important wildcard: hurricanes.
"The Gulf Coast hosts substantial oil, production, refining and transportation infrastructure, all of which can be knocked out by severe weather," Cleveland said, adding that forecasters have already predicted an active hurricane season this year.
Michael Ryan, a finance expert and the founder of michaelryanmoney.com, echoed this, saying Americans shouldn't necessarily expect gas prices to cool off anytime soon.
"With the economy bouncing back and the Russia-Ukraine situation throwing a wrench in global oil markets, some experts are forecasting $5 per gallon this summer," Ryan told Newsweek. "That's going to really sting for lower and middle-income families who spend a big chunk of their budget on fuel."
Uncommon Knowledge
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Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.
About the writer
Suzanne Blake is a Newsweek reporter based in New York. Her focus is reporting on consumer and social trends, spanning ... Read more
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