High U.S. Gasoline Prices Weigh on Demand as Consumers Start to Feel the Pinch, Says Analyst

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High U.S. Gasoline Prices Weigh on Demand as Consumers Start to Feel the Pinch, Says Analyst
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Gasoline prices have been surging and close to an average $5 per gallon across the U.S., with consumers feeling the pain in the pump.

in mid-July that includes a visit to Saudi Arabia, one of the world's largest oil producers. He is expected to explore ways to bring more oil onto the global market, as the U.S. and other countries are face soaring fuel prices due to the war in Ukraine as well as post-pandemic demand. All that is driving up inflation.

"The fact that airplanes are starting to sort of reduce production, reduce flights… might mean some people are more likely to do road trips. I think on the margins, it costs a lot more to take those trips. And so we'll see some people who are going or staying closer to home, maybe stay patient," she added.In June,to produce more, and said they need to help alleviate the burden of high prices on consumers.

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