Russia’s invasion of Ukraine sparked surges in gas prices, causing California pump prices to push past a record high of more than $5 a gallon on Thursday.
California diesel prices rose to $5.185 a gallon while gasoline reached $4.94 a gallon, both record highs and well above the national average price for regular gasoline of $3.72, according to auto club AAA.
Gasoline prices in San Francisco topped a historical $5 per gallon. “San Francisco just made history as the first-ever U.S. city to reach an average of $5 gas,” Patrick De Haan, head of petroleum analysis for GasBuddy, said in a statement.
“Unfortunately, this record is likely just the beginning of a larger trend of price spikes to come to California and the entire country,” Haan added.
Los Angeles also surpassed $5 for the first time, while other Southern California areas broke records in a one-day spike on Thursday.
The spike was blamed on anxious oil markets as Russia, one of the world’s largest producers of crude oil, continues to attack its neighbor Ukraine.
“In addition to oil prices spiking due to concerns about Russian oil supply being removed from Western markets, Southern California is experiencing some supply issues that tend to happen during the spring when refineries typically undergo maintenance,” AAA said.
© Fourth Estate
® — All Rights Reserved.
This material may not be published, broadcast, rewritten or redistributed.