WARNING: The average price of gas will likely set a new all-time record in the next 12 hours.
“There are few words to describe the unprecedented rise in gasoline prices over the last week, with massive spikes coast to coast in both gasoline and diesel prices, as oil prices jump to their highest since 2008,” said Patrick De Haan, head of petroleum analysis at GasBuddy.
According to GasBuddy, the average price of gas will likely set a new all-time record in the next 12 hours. “Forget the $4 per gallon mark, the nation will soon set new all-time record highs and we could push closer to a national average of $4.50/gal,” De Haan said. To put it in perspective, the national average is up 61.1 cents from a month ago and $1.29 per gallon higher than a year ago, according to data from GasBuddy.
“We’ve never been in this situation before, with this level of uncertainty. As we lose a major global producer under the weight of deserving bipartisan sanctions for invading a sovereign country, the cost is high,” De Haan explained. “Americans will be feeling the pain of the rise in prices for quite some time, with little good news foreseen.”
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