The only time when gasoline prices were higher than today was during a brief 3-month period in mid-2007, just prior to the Great Recession.
Since the financial crisis lows at the end of 2008, the average U.S. price for a gallon of unleaded has risen +$2.18 per gallon.
As a result of ongoing geopolitical tensions as well and increasing global demand, the price of crude oil continues to trend higher.
Over the past 8 months, the cost of one barrel of crude oil has increased by over $40.
With oil prices oil prices trending higher, it is not all that surprising to find that gasoline prices are following suit.
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