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Nationwide average for a gallon of gas now tops $4 a gallon

Gas Prices
Posted at 8:15 AM, Mar 07, 2022

The national average price for a gallon of gasoline climbed above $4 Monday, according to AAA.

CNBC and The New York Times both report that it represents the highest gasoline prices the country has seen since 2008.

Oil prices have soared in recent weeks amid Russia's invasion of Ukraine. The war involves two of the world's largest energy exporters, and talks of a NATO ban on Russian energy exports Monday sent the price per barrel to more than $130, the highest levels since 2008.

While gas prices in the U.S. have exceeded $4 a gallon, prices are already much higher in some states. The average cost per gallon now exceeds $5.30 in California and is creeping toward $4.60 in Nevada.

Missouri currently boasts the lowest gas prices in the country, though motorists there are still paying $3.62 a gallon.

Gas prices are now approaching double the price they were at this time last year. In March 2021, the average cost for a gallon of gasoline was about $2.77.

Patrick De Haan, an analyst for Gas Buddy, recently predicted that gas prices will continue to rise and surpass the 2008 all-time record of $4.10 per gallon.

"We could get to $4.25, maybe $4.50 a gallon," De Haan told Scripps politics reporter Joe St. George. "It could come as early as April Fools' Day."