The cost of gas has surged by more than 70 cents per gallon, rising to an average of $3.28 per gallon in the first 12 months of this year, according to data from the U.S. Energy Information Administration.
That’s up from an average price of $2.91 in the period a year ago, the data show.
The increase is primarily driven by an increase in the price of natural gas from $1.87 per million British thermal units (MBtu) in December to $3 per million on Monday.
Gasoline prices are set to continue their recent surge in the coming weeks, as more states seek to limit the spread of COVID-19, a coronavirus that can be transmitted from person to person through air, water and the atmosphere.
This year’s increase is expected to be even more significant, with the number of COIDS cases in the United States forecast to reach 5,400 this week, up from 3,500 on Monday, according a statement from the CDC.
“This is a very volatile market, with prices rising every day, but this is the most volatile we’ve ever seen, and this is a lot of pressure on prices,” said David Leyton, an energy analyst at BTIG Research in London.
A higher price may lead to more people staying home from work or school, or to go without gas in some areas, but gas prices are not expected to drop.
As the weather warms, so too do the costs for families and businesses, and with the cost of natural fuel increasing, the costs of COIDs could also increase, according the CDC’s John Hynes.
While gas is still cheaper than diesel, natural gas prices will likely increase more in the years ahead, according Leyton.
Many states have already imposed restrictions on the use of fossil fuels, including the ban on the sale of coal in January.
Other states have taken action to restrict the spread, including banning the importation of diesel fuel.
Hynes said the new data shows the economic impact of the coronaviruses is not limited to the United Sates.
In other countries, like the U, gas has become more expensive.
With gas prices expected to increase by as much as 80 cents per million Btu, the cost could eventually rise to as much $10 per million, Leyton said.
According to the EPA, COVID deaths have been on a downward trajectory since the pandemic, with deaths per 100,000 people declining by nearly 30 percent from 2006 to 2015.
That is in large part due to more treatment, which can prevent many of the infections.
Some of the other health problems COVID can cause include kidney failure, pneumonia, severe burns and other injuries, among other problems.