Across the U.S. the average price of gas hit its all time high, according to gas buddy.
The previous record was set back in 2008.
With prices rising by the hour, a viewer wanted to know if those price hikes are considered price gouging. So we set out to Verify.
Jason Blankenship from the Better Business Bureau and the Georgia Consumer Protection Division spoke with our Verify team.
The Consumer Protection Division says prices fluctuate depending on supply, demand and local competition.
They say Georgia's price control laws go into effect only after the governor issues an order declaring a state of emergency.
When that happens, the governor must specifically state that prices for a service like gasoline could be price controlled.
But the state also says that as long as the gas stations' own costs are going up, the higher price at the pump is not price gouging.
"Due to the COVID state of the emergency, fuel is not listed. Typically, when we see price gouging, its maybe one gas station here or maybe another in Dublin. They're just very spread out. Unfortunately, with everybody going up on fuel, which is not fun for everyone, it's not price gouging, it's supply and demand," Blankenship said.
So, we can Verify, what you're seeing is not price gouging.
With that verified, let's look at what it would take for those prices to go down.
Last month, Gas Buddy held a live chat addressing the invasion of Ukraine, and the potential impact.
Patrick De Haan, Gas Buddy's head of petroleum analysis, says before prices drop we'd need to see a drop in global demand or an increase in supply.
Right now... neither seems likely.
De Haan says they don't expect to see a normal decline in gas prices until sometime this summer.