The average price of regular-grade gasoline in the United States has risen by 79 cents in the last two weeks to a record-breaking $4.43 per gallon.
According to Trilby Lundberg of the Lundberg Survey, the new price is 32 cents higher than the previous all-time high of $4.11 set in July 2008.
The price of gasoline is $1.54 higher now than a year ago.
Lundberg believes gas prices will remain high in the short term as crude oil prices rise due to global supply concerns following Russia’s invasion of Ukraine.
The San Francisco Bay Area has the highest average price for regular-grade gas in the country, at $5.79 per gallon. Tulsa, Oklahoma, has the lowest average, at $3.80 per gallon.
The Golden State has the highest fuel prices in the country, which is owing in part to high gas taxes and environmental requirements for maintaining bridges and highways and combating climate change.
Gov. Gavin Newsom promised financial assistance to help consumers cope with rising gas prices, but few details have been published about how much or when state funds could be distributed to motorists.
According to the survey, the average price of diesel fuel has also increased, rising $1.18 in two weeks to $5.20 per gallon.
Diesel is $2.11 more expensive than it was a year ago.
Prices could rise much more if Russia responds to harsh sanctions imposed by the US and its allies by restricting oil exports, which would push the global cost per barrel to new highs. With inflation at a four-decade high, US drivers are already paying outrageous gas rates.
