In a first, U.S. petrol prices reach $5 per gallon.

The average price of U.S. gasoline topped $5 a gallon on Saturday, AAA statistics showed, continuing a climb in fuel prices that is pushing inflation.

AAA data showed that the price of regular unleaded gas rose from $4.986 a gallon on June 10 to $5.004 a gallon on June 11.

High gas prices are an issue for President Biden and House Democrats ahead of November midterm elections.

Biden has released a record number of barrels from U.S. strategic stockpiles, waived regulations for summer gasoline production, and pushed key OPEC members to expand supply.

Rebounding demand, sanctions on oil supplier Russia following its invasion of Ukraine, and a refining capacity bottleneck have pushed up global gasoline prices.

Adjusted for inflation, the U.S. gasoline average is still 8% below June 2008 highs about $5.41 a gallon.

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