As the U.S. economy struggles to emerge from its pandemic-induced hibernation, consumers and businesses have encountered product shortages, hiring difficulties and often conflicting public health guidance, among other challenges. Now the recovery faces a more familiar foe: rising oil and gasoline prices. Prices moderated later in the day but remained nearly $10 a barrel higher than in mid-May. A year ago, as the coronavirus kept people home, gas cost just $2.18 a gallon on average. The auto club said on Tuesday that it expected prices to increase another 10 to 20 cents through the end of August.

Source: International New York Times July 06, 2021 21:56 UTC