Why is gas so expensive? Gas prices are up 89 cents gallon over last year as the national average hits $3.52
And – thanks to global unrest and increasing demand – the sky-high trend will likely continue for a while.the national average gas price has climbed for the eighth consecutive week, rising 3.2 cents from a week ago to reach $3.52 per gallon. The national average is up 20.7 cents from a month ago and 88.9 cents per gallon than a year ago. The national average price of diesel has spiked as well, increasing 5.7 cents in the last week to reach $3.93 per gallon, the highest since May 20, 2014.
“With tensions still very high that Russia may invade Ukraine, gasoline prices kept moving higher, tugged by the rising price of oil as the market concentrates on possible outcomes from the situation that could affect global oil production amidst recovering demand,” DeHaan said. “The weeks ahead could be rather ugly with rising prices, especially if Russia pursues a strong-arm invasion of Ukraine.
The average cost at the priciest 10% of stations stands at $4.39 per gallon, down 1 cent from a week ago, while the lowest 10% average $3.07 per gallon, up 3 cents from a week ago. The states with the lowest average prices: Oklahoma , Arkansas , and Mississippi . The states with the highest prices: California , Hawaii , and Oregon .
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