CAMARILLO, Calif. (AP) â€” The average U.S. price of regular-grade gasoline shot up a whopping 79 cents over the past two weeks to a record-setting $4.43 per gallon (3.8 liters).
Industry analyst Trilby Lundberg of the Lundberg Survey said Sunday the new price exceeds by 32 cents the prior all-time high of $4.11 set in July 2008.
The price at the pump is $1.54 higher than it was a year ago.
Lundberg said gas prices are likely to remain high in the short term as crude oil costs soar amid global supply concerns following Russiaâ€™s invasion of Ukraine.
Nationwide, the highest average price for regular-grade gas is in the San Francisco Bay Area, at $5.79 per gallon. The lowest average is in Tulsa, Oklahoma, at $3.80 per gallon.
According to the survey, the average price of diesel also spiked, up $1.18 over two weeks, to $5.20 a gallon. Diesel costs $2.11 more than it did one year ago.