Experts warn $5 a gallon gas could happen across the United States.
Gas prices went above $4 in central Pennsylvania, including at this station in Summerdale, Cumberland County. Early this year, gas experts warned us that gas prices could hit $4 a gallon by Memorial Day.
The national average price of a gallon of gas increased by 11 cents overnight to $3.83 a gallon, according toGasBuddy said the price increases are a result of “tensions in Russia and Ukraine” which “put pressure on oil markets worldwide.” AAA said yesterday, “An increase in gas demand, alongside a reduction in total supply, is contributing to price increases, but increasing oil prices continue to play a leading role in pushing prices higher.AAA said although the International Energy Agency is coordinating the release of crude oil from its member countries’ strategic reserves, the announcement did not specify how much would come from each country.
“San Francisco just made history as the first ever U.S. city to reach an average of $5 gas,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “And unfortunately, this record is likely just the beginning of a larger trend of price spikes to come to California and the entire country. While Bay Area prices might be leading the way for now, there’s a possibility here for the entire state of California to follow suit, with gas prices potentially rising over the $5 mark this spring.
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