Following a slowdown in oil production due to the pandemic, consumer demand for gas soared in 2021.
Coupled with the Russian invasion of Ukraine that limited oil supply, average prices for regular gas reached record highs of $5.02 in June 2022.
However, with U.S. oil production on the rebound, average prices for regular gas have since fallen to $3.69 per gallon, based on American Automobile Association data.
Despite rising inflation for most other items, television prices have been trending down for the last two years.
Before the pandemic, the average cost for a dozen eggs was closer to $1.50.
Organizations:
American Automobile Association, Yahoo Finance, P, U.S . Labor
Locations:
Ukraine, U.S