Gas Prices Head for Record High Amid Ukraine-Russia Tensions
U.S. gasoline prices are on track to hit a calendar record this week, despite oil prices pulling back, according to GasBuddy's analysis.
Petroleum expert Patrick De Haan warned that continued Ukrainian attacks on Russian oil infrastructure and dwindling output could drive refined product prices higher, putting upward pressure on what Americans pay at the pump.
GasBuddy data shows the U.S. average price of gasoline fell 0.8 cents over the last week to $4.05 per gallon, but is up 28.5 cents from a month ago and 93.6 cents per gallon higher than a year ago.
The states with the lowest average prices are Texas ($3.55 per gallon), Indiana ($3.61 per gallon), and Mississippi ($3.62 per gallon), while those with the highest average prices are California ($5.62 per gallon), Hawaii ($5.40 per gallon), and Washington ($5.10 per gallon).