Oil tops $100: When will you see $4 a gallon gas in your state?
CNN
Gas prices were rising rapidly even before Russia's invasion of Ukraine, but with the current shock to the oil market, $4 a gallon gas is now likely to be widespread across the country in a matter of weeks — if not sooner.
The average price of a gallon of regular stood at $3.54 nationwide Thursday, according to figures AAA collected from US gas stations. But wholesale gasoline prices soared 14 cents a gallon, or 5%, in trading Thursday, pushing oil futures above $100 a barrel for the benchmark Brent crude for the first time since 2014.
The jump in wholesale gas prices will likely be passed on to consumers at the pump within days, said Tom Kloza, global head of energy analysis for the Oil Price Information Service, the firm that tracks gas data for AAA.
