US Gasoline Surges to Fresh Record in Another Blow to Drivers

President Joe Biden has vowed to do everything in his power to fight record-setting gasoline and diesel prices, including releasing millions of barrels of oil from the US Strategic Petroleum Reserve. However, costs have continued to rise, adding fresh pain at the pump for drivers.

Nymex gasoline futures also gained in trading on Monday morning, reaching as high as 403.33 cents a gallon — in what would be another record if they settled at that level. Crude benchmarks Brent and WTI also rose, buoyed by China easing lockdown restrictions and a European Union proposal to ban Russian shipments.