A Menlo Park Chevron gas station in California’s Bay Area has set its regular unleaded gas price at $7.29 a gallon, surpassing the federal minimum wage of $7.25 per hour. California’s minimum wage, however, is significantly higher at $16.00 per hour.
The nationwide average gas price stands at $3.68 per gallon, while California’s average is $5.43 per gallon. This increase from last year’s average of $4.90 per gallon has raised concerns among consumers and policymakers.
The White House has acknowledged the rising gas prices and has stated that it is monitoring the situation closely. The administration is committed to ensuring that gas prices remain affordable for American families, especially during the upcoming summer driving season.
The rising gas prices are attributed to several factors, including the ongoing conflict in Ukraine, increased demand as economies recover from the pandemic, and supply chain disruptions.
