Utah reached a new all-time average high price record for a gallon of gas in the state on Thursday morning.
SALT LAKE CITY — Utah reached a new all-time high average price record for a gallon of gas in the state on Thursday morning.
Oil prices have been surging in recent weeks because of record-breaking inflation. Then prices rocketed upwards even further after Russia's invasion of Ukraine and subsequently, President Joe Biden's decision to ban oil imports to the U.S. from Russia. Some experts believe that price gouging could also be a factor."Russian oil will no longer be acceptable at U.S.
"I think one thing that's misunderstood is the sense that we can just flip a switch and produce energy right away. The energy that we produce here in the United States, is capital intensive to be able to produce," said Frank Macchiarola, senior vice president for policy, economics and regulatory affairs at the American Petroleum Institute.
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