On Monday, prices at the pump stood at $3.42 a gallon, the highest since 2014 amid fears a Russian invasion of Ukraine could destabilize the entire region.
This time last year, the average price of a gallon of gas was 97.5 cents cheaper, and gas prices have seen their sharpest spike in months after oil surged to $93 a barrel last week.
Motorists' wallets could be hit even harder with the biggest spikes expected in spring due to"a confluence of seasonal factors and the potential flare up in geopolitical tensions." "If there's a deal with Iran, we may suddenly have a few extra million barrels of oil per day, which could be the only thing to derail the $4 prediction," he told Newsweek.between the U.S. and Iran to the nuclear deal known as the Joint Comprehensive Plan of Action .
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