By early April, the U.S. could hit the national average gas price record it set in 2008, GasBuddy’s head of petroleum analysis said.
Next month, the U.S. could hit the national average gas price record it set nearly 14 years ago, earlier than initially estimated, following Russia’s invasion of Ukraine, an industry expert said Friday. Russia’s February 24 invasion has raised concerns about potential impacts the military conflict could have on the global oil supply, due in part to Russia’s role as one of the world’s top oil producers. Those concerns have translated into increasing prices at the pump across the U.S., with some states reporting increases of more than 30 cents in the past week for a gallon of regular unleaded. Patrick De Haan, the head of petroleum analysis at GasBuddy, told reporters during a Facebook Live event on Friday that high oil prices reported this week mean gas price increases «will likely continue» in the days ahead. «I know a lot of prices have already gone up—in some instances 50,60,70 cents over the last few weeks,» De Haan said. «There will be more increases coming, maybe to the tune of another 20 to 30 cents a gallon.
