The price of gas broke $4 per gallon on average across the US for the first time since 2008

OSTN Staff

A sign at a Chevron gas station at night displays high prices.
Prices for gas and diesel fuel, over $5 a gallon, are displayed at a petrol station in Monterey Park, California on March 4, 2022. – Californians filling up their cars on March 4, winced at the spiraling cost of gasoline, but largely shrugged as residents of the state that has long had the highest gas prices in the United States.

  • The average price of gas broke $4 in the US for the first time since 2008.
  • The all-time high for average gasoline prices was set in July 17, 2008, at $4.10 per gallon.
  • On Sunday, California had the highest average price per gallon among US states at $5.29.

NEW YORK (AP) — The price of regular gasoline broke $4 per gallon (3.8 liters) on average across the US on Sunday for the first time since 2008.

During the first full week of Russia’s invasion of Ukraine, the price of regular gas rose by almost 41 cents, according to the AAA motor club.

That represents the second-largest jump in average national prices in a week, GasBuddy reported.

“As Russia’s war on Ukraine continues to evolve and we head into a season where gas prices typically increase, Americans should prepare to pay more for gas than they ever have before,” Patrick De Haan, head of petroleum analysis for GasBuddy, said in a statement.

The all-time high for average gasoline prices was set in July 17, 2008, at $4.10 per gallon.

Neither President Joe Biden nor Congress has moved to ban the import of Russian oil or place energy sanctions on the country, which could have major global economic repercussions.

On Sunday, California had the highest average price per gallon among US states at $5.29, while Missouri had the lowest at around $3.60.

Read the original article on Business Insider

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