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US gas prices jump to a record high of $ 4.67 per gallon




The national average for regular gasoline climbed five cents on Wednesday to a new record of $ 4.67 per gallon, according to AAA.

It gives gas prices up by 48 cents in the last month alone.

It now costs 32% more to fill up the tank than the day before Russia invaded Ukraine.

Seven states are now averaging $ 5 or higher, with Illinois as the last to join the unpopular club, according to AAA. New York and Arizona are just dollars away from the $ 5 threshold. The average in California is now $ 6.19 per gallon.

Biden is 'obsessed' with lowering 'outrageous' gas prices, but presidents do not control prices, says energy secretary

No state has an average of $ 4.15 or lower, with George coming in at the lowest of $ 4.16.

Andy Lipow, president of Lipow Oil Associates, told CNN that he expects the national average to reach $ 4.75 over the next 10 days.

The price of oil, the largest component of pump prices, continues to rise.

Brent oil, the world benchmark index, rose 1% on Tuesday to close at its highest level in almost three months. Brent is up another 1.2% Wednesday morning. The gain comes after Europe agreed to phase out 90% of Russian oil imports by the end of the year.

The national average for ordinary gas is now 44 cents higher than the day President Joe Biden announced the largest ever oil spill from the Strategic Petroleum Reserve at the end of March.



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