National Average Gas Price Spikes to $4/gal, First Time Since 2008

Mar 05, 2022 at 08:57 pm by WGNS

On Saturday evening (03/05/2022), for the first time since 2008, the national average price of gas in the U.S. has surpassed $4 per gallon. Just in the last week, gas prices have spiked 41 cents per gallon nationwide, narrowly missing the record weekly spike.

On Friday (03/04/2022) alone, the national average rose 15 cents.

The United States is currently only a few cents away from the all-time record high. Reports from sources like “GasBuddy” show that U.S. gas prices will likely continue to rise and set new records through the summer.

Example of Regular Unleaded Prices in Rutherford County, TN:

• Sam's Club (125 John R Rice Blvd, Murfreesboro, TN) $3.57/gal (03/05/22)   
• Costco (1524 Beasie Rd, Murfreesboro, TN) $3.57/gal (03/05/22)   
• Mobil (5540 Murfreesboro Rd, LaVergne, TN) $3.65/gal (03/05/22)     
• CITGO (300 Enon Springs Rd, Smyrna, TN) $3.75/gal (03/05/22)     
• Circle K (1702 S Rutherford Blvd, Murfreesboro, TN) $3.79/gal (03/05/22)   
• Marathon (1925 Lascassas Pike, Murfreesboro, TN) $3.79/gal (03/05/22)

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Gas Prices on the Rise - Continued...

In case you're curious, the all time high record came in at $4.10 per gallon. Friday’s daily rise of 15.8 cents per gallon was also the second largest daily rise ever, coming close to the record of 18.1 cents per gallon set as Hurricane Katrina tore through the Gulf 17 years ago.

Diesel prices, however, didn’t share the same fate as gasoline, as diesel soared to its largest daily gain ever: 22.2 cents per gallon, 6 cents higher than the previous record from 2013.

Prices have spiked across the country due to the Russian war on Ukraine as sanctions cripple Russia’s ability to export crude oil, spiking gas prices by nearly 41 cents in the last seven days alone.

Other notable gas price milestones:

• June 8, 2008: $4/gal is seen for the first time
• July 17, 2008: All time record high is set at $4.103 per gallon
• May 12, 2021: $3/gal average seen for the first time since 2014

SOURCE: GasBuddy



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