The national average price for a gallon of regular unleaded gasoline is on the verge of hitting $4 for the first time since 2022.
That price level is relative: A $4 gallon of gas would be welcome in California, Washington state or Hawaii, where the state averages run north of $5 per gallon; while residents of others states where the cost of living is lower are paying under $3.50 a gallon at the pump.
Regardless of the locale, no one’s really a fan of sharply rising gas prices.
Still, the $4 national average serves as a notable threshold – one that carries psychological, mathematical and mechanical implications for the US economy.
“This is worrisome, especially for those who have the least ability to weather the storm,” said Diane Swonk, chief…
