The average for a gallon of regular gas reached an all-time high of $4.40 on Wednesday after increasing by 3 cents overnight, AAA said.
According to AAA, gas has increased 18 cents in the last week, 29 cents in the last month and $1.42 in the last year. This week's records topped the nation’s previous record of $4.33 set back on March 11.
Several states — California, Nevada and Hawaii — are averaging more than $5 per gallon. Meanwhile, a handful of states — Oklahoma, Kansas, Arkansas, Missouri, Mississippi and Georgia — still have average gas prices below $4 a gallon.“With the cost of oil accounting for more than half of the pump price, more expensive oil means more expensive gasoline,” said Andrew Gross, AAA spokesperson. “These prices are creeping closer to those record-high levels of early March.
The cost of crude oil jumped significantly from December 2021 through March 2022, going from a low of $65 a barrel to a high of $119. The sting Americans are feeling at gas stations is shared throughout the world. For instance, the Canadian Automobile Association reports gas hit $5.70 a gallon on Wednesday, nearing a record high. The U.K. is reporting the equivalent of $7.69 a gallon.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Pain at the pump: Gas prices reach new record highThe national average price of gas hit a new record high Tuesday of $4.36 per gallon, rising just above the previous record set in March, according to GasBuddy.
Read more »
Pain at the pump: Gas prices reach new record highThe national average price of gas hit a new record high Tuesday of $4.36 per gallon, rising just above the previous record set in March, according to GasBuddy.
Read more »
Gas Prices Now Hovering Around $6 a Gallon in the Bay AreaGas prices across the U.S. continue to inch up, with the national average nearing a record while some Bay Area places have eclipsed the $6 milestone.
Read more »
Gas prices breaking records as we inch toward Memorial Day
Read more »
US gas prices hit all-time record with no relief in sightWith the official start of the summer travel season just weeks away, U.S. gas prices hit an all-time high on Tuesday with a gallon of regular selling for an average of $4.37 per gallon, up 25 cents from just two weeks ago and $1.40 more than the same time last year.
Read more »
US gas prices hit new record high at $4.37 per gallonThe national average price for regular gasoline climbed more than 4 cents today to $4.37 a gallon, a new record high.
Read more »