Gas prices just took another big step in the wrong direction
The national average for regular gasoline climbed by five cents on Wednesday to a fresh record of $4.67 a gallon, according to AAA. That leaves gas prices up by 48 cents in the past month alone.It now costs 32% more to fill up your tank than on the day before Russia invaded Ukraine. Seven states now average $5 or higher, with Illinois becoming the latest to join that unpopular club, according to AAA. New York and Arizona are just pennies away from the $5 threshold.
15 or lower, with George coming in at the lowest at $4.16. Andy Lipow, president of Lipow Oil Associates, told CNN he expects the national average to hit $4.75 in the next 10 days.Oil prices, the biggest component of pump prices, continue to move higher. Brent crude, the world benchmark, gained 1% on Tuesday to close at the highest level in nearly three months. Brent is up another 1.2% Wednesday morning.
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