On Saturday, the national average might exceed $3.428 per gallon
According to AAA, the average price of a gallon gasoline in America hit a seven year high.
The national average currently hovers around $3.423 per gallon. According to AAA spokesperson Andrew Gross, the national average was $3.4281 in September 2014.
Gross stated that the average gallon price in each state is $3. However, there are still some counties in Texas and Oklahoma that are below $3.
According to AAA figures, the average California gallon is $4.663
Gross stated that prices will likely rise “for a while” due to rising tensions in the Middle East, which is pushing up crude oil prices higher.
Gross stated that Russia’s threats to Ukraine are the main cause of tension.
AAA previously noted that Russia could be subject to financial sanctions due to its actions towards Ukraine. This would cause Russia’s crude oil to be withheld from the international market, increasing oil prices. Gross explained that Russia would also be affected by such sanctions.
Other than geopolitical tensions and cold weather, other factors that keep prices high are the low OPEC+ production levels and the fact that prices remain below pre-pandemic levels.
Gross stated that the national average could reach $3.428 per gallon on Saturday.