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According to the American Automobile Association (AAA), the average U.
S
.
gasoline price hit another record high of $4.
919 a gallon on Tuesday.
Oil prices in New Jersey, Maine and Massachusetts also rose above $5 a gallon, with 13 U.
S.
states now averaging more than $
5 a gallon.
The latest report from the U.
S.
Energy Information Administration (EIA) showed U.
S.
gasoline inventories fell to 219 million barrels, the lowest seasonal level
since 2015.
In the Mid-Atlantic, inventories have fallen to their lowest level
since records began in 1993.
Since the European Union announced a partial ban on imports of Russian crude, crude oil prices have risen
sharply.
At the same time, the United States officially kicked off the summer driving season, with JPMorgan Chase (130.
07, 0.
34, 0.
26%) predicting that the average gasoline price in the United States could rise above
$6 this summer.
Matt Smith, chief oil analyst at Kpler, believes that there is little sign of easing in the future, and the Biden administration's measures will not reduce oil prices
.
"The U.
S.
government has few tools because the biggest factor driving gasoline prices is global fundamentals
," Smith said.
"You can make decisions about domestic supply, but if it doesn't have an impact on the global situation, it won't have an impact
on the gas station.
"
