Gas Prices To See ‘Staggering Increases’ Across Multiple States
Summary
Gas prices in the U.S. are expected to rise sharply in the next few days due to ongoing conflicts in Ukraine and Iran that limit global oil supplies. Experts warn that both gasoline and diesel prices will increase significantly, especially in certain states like those in the Great Lakes and Rocky Mountain regions.Key Facts
- Conflicts in Ukraine and Iran are reducing global oil supplies, causing gas prices to rise.
- Gasoline and diesel prices are predicted to go up sharply within 24 to 48 hours.
- Fuel margins (the extra cost added to wholesale prices) have not fully adjusted to recent wholesale price increases.
- Diesel prices have reached $6.30 per gallon on average in the U.S., with expectations to climb to $6.60 soon.
- Gasoline average price nationally is around $4.37 per gallon, up from $4.22 a week ago.
- Prices in California are the highest nationally, at about $6.04 per gallon.
- Other states with gas prices over $5.00 per gallon include Washington, Hawaii, Nevada, Oregon, and Alaska.
- The rise in prices is affecting drivers across multiple states, with some seeing particularly large increases.
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