U.S. Gasoline Prices Rise Above $3/Gallon First Time Since 2014

Source: By Javier Blas and Brian Wingfield, Bloomberg • Posted: Wednesday, May 12, 2021

U.S. national average retail gasoline prices have risen above $3 a gallon for the first time since 2014, after a cyberattack shut operations at Colonial Pipeline, the main supply link for the East Coast.

The nation’s average retail price is now at $3.008 a gallon, according to motoring organization AAA. The pipeline’s shutdown has caused shortages at fuel stations around the Southeast.

Colonial Faces Deadline to Decide on Hacked Pipeline Restart

Gasoline above $3 a gallon is often considered a trigger point for politicians, who are likely to take the opportunity to further debate energy policy in Washington.

Colonial has said it plans to substantially return the pipeline to service by the weekend.