Fuel Prices Take Major Jump In Past Two Weeks

The average U.S. price of regular-grade gasoline shot up a whopping 79 cents over the past two weeks to a record-setting $4.43 per gallon as Russia’s invasion of Ukraine is contributing to already-high prices at the pump. Industry analysts say the new price exceeds by 32 cents the prior all-time high of $4.11 set in July 2008. But that’s still quite a ways from the inflation-adjusted record high of about $5.24 per gallon. The price at the pump is $1.54 higher than it was a year ago. Nationwide, the highest average price for regular-grade gas is in the San Francisco Bay Area, at $5.79 per gallon. The lowest average is in Tulsa, Okla., at $3.80 per gallon.