Gas prices are up in a big way. The Triple-A national average price for regular jumped four cents overnight, to $3.65 a gallon. That’s 12 cents higher than last week and 26 cents higher than a month ago.
Gas prices in the Sunshine State are up 4 cents since last week, and 33 cents since the start of 2022.
Experts with AAA say prices could surge another 15 to 30 cents in the coming weeks and months depending on oil prices.
“It’s just a very volatile market right now and then, when you introduce a situation like this with Russia and Ukraine, it just adds to the volatility. It adds to the concern in the marker which is ultimately driving prices higher,” AAA spokesman Mark Jenkins explained.
Jenkins said the high demand for gas has played a role in increasing costs. Increased demand during the busy spring and summer travel seasons could further drive up prices, according to AAA.
During his State of the Union Address last night, President Joe Biden said he has worked with 30 other countries to release 60 million barrels of oil from reserves to “help blunt gas prices here at home.”
Pres. Biden announces that the U.S. has worked with 30 other countries to release 60 million barrels of oil from reserves to “help blunt gas prices here at home” amid Russian sanctions. #SOTU https://t.co/fRRhmoV8PD pic.twitter.com/4QfQLbiEXj
— ABC News Politics (@ABCPolitics) March 2, 2022