U.S. gas prices are surging at a pace drivers haven't seen since Hurricane Katrina. Here's what you should know.
The national average price for a gallon of regular gas stood at $3.84 a gallon Friday, according to AAA. That is the highest price since September 2012 and 11 cents higher than Thursday.
"This is not the end of it. We're already up another 14 cents on wholesale gas prices this morning," said Tom Kloza, global head of energy analysis for OPIS. He said the wholesale gas price increases are likely to be passed onto consumers in short order.The average price a year ago was $2.75 a gallon, as prices were still recovering from the plunge that occurred early in the pandemic. Stay-at-home orders and business shutdowns slashed demand for gasoline.
National News Russia's invasion of Ukraine leaves global trade in tatters National News Backlash against Russian-branded gas stations hits Americans There are now nine states -- California, Hawaii, Nevada, Oregon, Washington, Alaska, Illinois, New York and Pennsylvania, where the average price is already over $4 a gallon, with New York and Pennsylvania crossing the $4 mark with the latest reading.
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