Gas prices across the country are exploding in price. The average cost of gas nationwide was broken yesterday, and prices grew another 8 cents today. The national average for regular gas is now $4.25, which is a huge amount. July 2009 previously held the record, at $4.11, which would be $5.25 now adjusted for inflation. The reason the prices are so high is because of Russia invading Ukraine. Also, Russian crude oil is sanctioned right now, and it only represents 3% of US imports, but it is used in US refineries, which cannot use other types of crude oil. Joe Biden already banned the US import of all Russian energy products yesterday, and that will likely drive prices up further. Diesel prices also hit all time highs, at $4.88. California currently has the highest gas price at $5.57, and Oklahoma and Kansas have the lowest at $3.79.
Source: https://www.usatoday.com/story/money/2022/03/09/gas-prices-diesel-record-high/9433436002/
