New York CNN —
Exactly two years ago Friday, gasoline prices peaked at a record of $5.02 a gallon nationally.
The gas spike of 2022 crushed consumer confidence, spooked investors and put a hole in family budgets. It helped propel the national inflation rate to 9% for the first time since the early 1980s.
“Five-dollar gas sent shockwaves through the system. No American outside of California had ever seen five-dollar gas before,” said Patrick De Haan, head of petroleum analysis at GasBuddy.
Gas prices today are not cheap – but they are miles away
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