UPDATE MARCH 8, 2022:
UNDATED (AP)- The average price for a gallon of gasoline in the U.S. hit a record $4.17 on Tuesday (March 8, 2022) as the country prepares to ban Russian oil imports. The average price rose by 10 cents per gallon in one day, and it’s up 55 cents since last week, according to AAA data. Total domestic gasoline stocks decreased by 500,000 bbl to 246 million bbl last week, according to new data from the Energy Information Administration. Meanwhile, gasoline demand rose slightly from 8.66 million b/d to 8.74 million b/d.
MARCH 7, 2022:
NEW YORK (AP) — The average price of regular gasoline across the U.S. has risen above $4 per gallon for the first time since 2008. The AAA motor club said the price of regular gas went up by almost 41 cents during the past week. That comes in the wake of Russia’s invasion of Ukraine, and represents the second largest jump in average national prices in a week. The head of petroleum analysis for GasBuddy said the Russian invasion and seasonal price changes mean Americans should prepare to pay more for gas than ever before. The all-time high for average gasoline prices was set in July 17, 2008 at $4.10 per gallon.
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