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| At the Costco gasoline station in Sunnyvale, California, on Saturday, a driver who asked to be identified only as Francisco paid more than $106 for 20 gallons (nearly 76 liters) of fuel, the cheapest price he could find that morning. |
| Francisco, who owns a landscaping business in the San Francisco Bay Area, recently started to use the Gas-Buddy app to save money on fuel. The app traces real-time prices at gasoline stations in the United States, Canada and Australia. |
| According to Francisco, the price of gasoline in his area has risen by at least 30 percent since last month. |
| His two trucks and other equipment, such as lawn mowers and leaf blowers, all use gas. If prices continue to rise, Francisco said, he would have to pass on the extra cost to clients, which will be "really bad" for his business. |
| Gasoline prices moved closer to $6 per gallon on Saturday at stations across the Bay Area, with the highest prices reported in Marin County, Napa and San Francisco, where they went beyond $5.90 per gallon. |
| The average price for gasoline in the US surged to a record high last week as the Russia-Ukraine conflict heightened concerns that it might disrupt supplies of oil from Russia. However, the average nationwide price on Saturday fell to $4.26 from a peak of $4.33 on March 11, which surpassed the previous high of $4.10 in 2008. |
| In California, gasoline prices have risen steadily. The statewide average price climbed from $5.44 per gallon early this month to $5.69 a week ago and then to $5.83 per gallon on Saturday, according to the American Automobile Association. |
| The state has the most expensive gasoline in the US. Experts said this is partly due to its higher gas tax and tougher environmental and emissions laws. |
| The surge in energy prices and record-high inflation have pushed up charges for food, rent, clothes and many other goods. |
| Soaring gasoline prices, in particular, are having a significant impact on household budgets. |
| According to an estimate by the Yardeni Research consultancy, a typical US family could incur additional costs of $2,000 a year due to higher gasoline prices. In addition to about $1,000 in extra costs at grocery stores due to inflation, a typical household will have $3,000 less this year to spend on other items. |
| As gasoline prices rise, consumer spending tends to fall. According to analysts at JPMorgan Chase, each 10 percent rise in gasoline and oil prices will require consumers to fork out an additional $23 billion a year to maintain their spending patterns. |
| Families budgeting for higher gasoline charges are reducing their spending in other areas. Some people are already driving less due to the higher prices. One in three adults said they cut their use of cars last month, with most blaming rising gasoline prices, according to global data intelligence company Morning Consult. |
| Economists are concerned that rising energy prices may worsen overall inflation. Coupled with the intensifying geopolitical crisis, this could slow the economic rebound in the US. |
| Goldman Sachs has lowered its forecast for annual US economic growth, citing higher oil prices. It said that there is a risk the US will enter a recession in the next 12 months. |
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