SPOKANE, Wash. — It’s not the news that drivers wanted to hear, but gas prices are on the rise again and setting new record highs.
Nationally, the average price for regular fuel is now a record $4.37 per gallon, according to AAA. Diesel prices are even higher, at a record of $5.55 per gallon.
In the Northwest, drivers are paying even more to gas up, according to AAA. In Washington state, the average price hit a record high of $4.87 per gallon on Tuesday. Idaho gas prices are slightly cheaper, but still at a record high of $4.48 per gallon.
The record highs follow a big surge in gas prices over the past two weeks. AAA reports the increase is tied to the high cost of crude oil, which has jumped about $10 per barrel in the last week.
“With the cost of oil accounting for more than half of the pump price, more expensive oil means more expensive gasoline,” Andrew Gross, AAA spokesperson said in a written statement.
GasBuddy, an online platform that tracks prices across the county, tied the recent fuel increases to talks about the European Union sanctioning Russian oil. They also warned that gas prices “could continue to climb through Memorial Day.”
“There’s little, if any, good news about fuel prices heading into summer, and the problem could become worse should we see an above average hurricane season, which could knock out refinery capacity at a time we badly need it as refined product inventories continue to plummet,” Patrick De Haan, head of petroleum analysis at GasBuddy said in a written statement.