Will the average price of a gallon of gas in California hit $5? It already has in three counties.
Douglas Zimmerman/SFGATE
Gas prices skyrocketed across the country this week after Russia launched an invasion of Ukraine, but the spike is especially dramatic in California, where the average cost of a gallon of gas is inching toward the $5 mark. The state average hit a record-high $4.77 on Thursday, $1.23 above the national average, the American Automobile AssociationThe price of a barrel of crude oil went from $90 to $100 this week with the market anticipating a restriction of supply from Russia, and that’s driving up gasoline prices everywhere, explained AAA spokesperson Aldo Vazquez.
“Now that Russia has invaded Ukraine, the United States and its allies are likely to impose more significant financial sanctions on Russia,” Vazquez said. “Russia will likely retaliate by keeping away its oil from the global oil market, and that will have a significant impact on the price of crude oil.”The answer to that question varies depending on whom you talk to.
“That’s a prediction that we’re not ready to make at the moment,” Vazquez said. “It’s certainly a possibility. Many counties in the state have already gone above $5.”
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