The national average retail price for a gallon of gasoline reached $5 for the first time on Saturday according to AAA figures.
The new average marks a $1.93 rise per gallon over the past year. Prices rose by 19 cents over just the last week.
Drivers in some parts of the country are paying far more than the average. The average cost per gallon for Californians is $6.43, according to AAA.
The skyrocketing prices coincide with higher fuel demand as Americans hit the road over the summer.
President Biden has blamed skyrocketing energy prices around the globe on Russia’s invasion of Ukraine.
But Republicans are not buying the excuse and blame Mr. Biden’s climate initiatives and restrictions on domestic energy production.
“The average gas price just hit $5 per gallon!,” Rep. Lee Zeldin, New York Republican, said on Twitter Saturday. “Unaffordable electric cars, subsidies for solar panels, and begging adversaries abroad for help isn’t the answer. We need to ramp up domestic energy production and become American independent again!”
The prices at the pump are part of an overall surge in consumer prices.
Consumer prices overall have reached 40-year highs. The consumer price index rose 8.6% year-over-year in May, according to Labor Department figures released Friday.
And the price surge shows no signs of slowing. Consumer prices rose 1% on a month-to-month basis in May, up from a 0.3% increase the prior month.
— This story includes wire service reports.