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Gas prices surge to new record high of $4.41 per gallon

Gas prices surge to new record high of $4.41 per gallon

CBSN
Thursday, May 12, 2022 06:41:10 PM UTC

The price of gasoline in the U.S. has risen to a new record high for three days in a row, as falling capacity at refineries increase the costs of filling up.

The average price of a gallon of regular gas rose to $4.42, according to AAA. That's up from from $4.10 and $3 in May of last year, with spiking energy costs contributing to the fiercest bout of inflation around the country in 40 years. 

Gas now tops at least $4 per gallon in every U.S. state, with the biggest jump in fuel prices this week in Michigan, New Jersey, Connecticut, Kentucky and Indiana, according to AAA. The priciest states for gas are in the West: California ($5.85 per gallon), Hawaii ($5.31), Alaska ($4.81), Nevada ($5.12) and Oregon ($4.88).

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