Posted on 05/15/22
| News Source: FOX Business
The national average gas price hit a record high, and is expected to continue rising as the energy supply crunch in the U.S. rages on.
The average price for a gallon of gasoline in the U.S. rose to a record Sunday morning to $4.47, according to the latest numbers from AAA. The price on Saturday was $4.452.
Some states with higher-than-average prices include California at $5.92 a gallon, and Hawaii at $5.32.
Diesel also hit its own highest recorded cost just above $5.56.
Before Russia was hit with sanctions for invading Ukraine, threatening the already tight global oil market, the national average was at $3.53, according to Andy Lipow, the president of Lipow Oil Associates.
He estimated that the national average could soon surge as high as $4.50 per gallon.