According to AAA, today’s national average price for a gallon of regular gasoline is $3.728, which is seven cents more than on Wednesday and 18 cents higher than last Thursday.
The increase comes amid an increase in demand for gasoline and the ongoing invasion of Ukraine by Russia. On Wednesday, West Texas Intermediate ended the day at $110.60 per barrel after briefly hitting $116.57, a high that hasn’t been seen since 2008.
“Consumers should prepare in case gasoline prices rise even further,” said Jim Garrity, director of public affairs, AAA East Central. “At this point, all eyes are on crude oil, which accounts for 50 to 60 cents of each dollar you spend at the pump. But, we’re right around the corner from demand increasing and the sale of summer blend gasoline, which are both trends that typically push prices higher in the spring.”