The price of gasoline across the country continues to set new all-time records by the day amid inflation, Russia’s war against Ukraine and the U.S. ban of Russian energy imports, with the average cost for unleaded fuel rising to $4.33 per gallon on Friday.
That marks a per-gallon-increase of nearly 50 cents from one week ago, 85 cents from one month ago and $1.50 from one year ago, according to AAA.
Despite the continued rise in prices at the pump, oil markets have been slightly down in recent days. WTI crude, the U.S. benchmark, was around $106 per barrel Friday, down from nearly $124 on Tuesday. Brent crude, the global benchmark, was near $110 per barrel Friday, down from roughly $128 on Tuesday.
While the entire country has no doubt felt the impact of rising gasoline prices, California has been one of the hardest-hit states. Its average on Friday was quickly approaching $6 per gallon, with gas increasing to $5.72. That’s $1.04 more per gallon than one month ago.
Other states approaching the $5 territory included Nevada at $4.92, Hawaii at $4.84, Oregon at $4.74, Washington at $4.73 and Alaska at $4.72.
• Ramsey Touchberry can be reached at rtouchberry@washingtontimes.com.
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