Nevada’s statewide average gas price set an all-time high Wednesday at $4.77 a gallon. So why have prices risen so quickly? And why does Nevada have some of the highest prices in the nation?
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Home prices in the U.S. have been rising at their fastest rate in decades, and there’s every reason to believe prices will continue pushing higher in the months to come.
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New all-time highs for gasoline prices led to long lines for wholesale gas and surprised drivers filling up elsewhere. “You just gotta grin and bear it,” Las Vegan Keaton Johns said.
Some think the impact of gasoline price spikes will be short-lived; others are wary that increases could drift into airfares and visitors will spend less while here.
As of Monday, the average cost of regular unleaded gas in Las Vegas was $4.60 per gallon, setting a new record. Gas prices in the Las Vegas Valley have jumped 60 cents in the past week.
Gas prices hit an all-time high in Las Vegas on Friday after a 17-cent price spike overnight, according to AAA data.
Food prices that are already at their highest point in more than a decade are set to push even higher amid a global shortage of fertilizer that has worsened since Russia invaded Ukraine.
The average price of regular unleaded gasoline in Las Vegas surpassed the $4 per gallon mark over the weekend.
A proposal sought by Democratic U.S. senators — including Nevada’s Catherine Cortez Masto and Jacky Rosen — to reduce federal gas taxes won’t bring relief for Nevada residents.
The Prime monthly subscription, meanwhile, jumps even more: from $12.99 to $14.99.
The U.S. Department of Education extended the student loan pause through May 1, 2022, and given all the changes that have happened over the past two years, borrowers must start preparing now forpayments to restart.
The Federal Reserve has signaled it’s getting ready to raise interest rates in March. While this could impact mortgage rates, experts say it’s difficult to predict if they’ll steadily rise throughout the year.
The Federal Reserve signaled Wednesday that it plans to begin raising its benchmark interest rate as soon as March, a key step in reversing its pandemic-era low-rate policies that have fueled hiring and growth but also escalated inflation.
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