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AAA said average U.S. regular grade gasoline prices hit $4.009
per gallon on Sunday, up 11% from $3.604 a week ago and up 45%
from $2.760 a year ago.
The automobile club, which has data going back to 2000, said
U.S. retail gasoline prices hit a record $4.114 a gallon on July
17, 2008, which was around the same time U.S. crude futures
soared to a record $147.27 a barrel.
The most expensive gas in the country is in California at $5.288
a gallon, followed by Hawaii ($4.695), Nevada ($4.526) and
Oregon ($4.466), according to AAA.
U.S. gasoline futures, meanwhile, soared to a record $3.890 per
gallon on Sunday. [O/R]
Gasoline price provider GasBuddy said the average price of U.S.
gasoline spiked nearly 41 cents per gallon, topping $4 for the
first time in almost 14 years, and stands just 10 cents below
the all-time record of $4.103 per gallon.
GasBuddy said that weekly increase was the second largest ever,
following a jump of 49 cents per gallon during the week of Sept.
3, 2005, after Hurricane Katrina tore through the U.S. Gulf
Coast.
"Increasing oil prices continue to play a leading role in
pushing prices higher," AAA said in a release, noting "pump
prices will likely continue to rise as crude prices continue to
climb."
U.S. crude futures soared more than 12% to $130.50 per barrel
late Sunday, their highest since July 2008, as the United States
and its European allies consider banning imports of Russian oil.
(Reporting by Scott DiSavino; Editing by Bill Berkrot and
Kenneth Maxwell)
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