Nationwide average for gallon of gas reaches new high: $5

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Nationwide average for gallon of gas reaches new high: $5
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The national average price for gas, which has jumped 19 cents in the last week, is now $5, according to AAA.

The nationwide average price for a gallon of gasoline reached a new high of $5 on Saturday, according the American Automobile Assn.The national average price has jumped 19 cents in the last week, and it’s up $1.93 from this time last year.

Americans typically drive more starting around Memorial Day, so demand is up. Global oil prices are rising, compounded by sanctions against Russia, a leading oil producer, because of its war on Ukraine. And there are limits on refining capacity in the United States because some refineries shut down during the pandemic.

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