A 99-day streak of falling gas prices in the US ended on Wednesday AAAThe average price of a gallon of regular gasoline rises by about one percent as concerns about the escalation of war, economic crises and hurricane threats in Ukraine increase.
The average price for a gallon of gas is now $3.68 per AAA, slightly higher than Tuesday’s months low of $3.67.
The national increase is driven largely by western states, such as Arizona, where the average price rose more than seven cents a gallon from Tuesday to Wednesday, and California, where prices rose more than three and a half cents the previous day.
According to AAA, prices continue to fall in many states in the eastern part of the country, but the decline has slowed significantly due to a sharp drop in prices during the summer.
California leads the way in expensive gas with an average of $5.49 per gallon, followed by Hawaii ($5.27) and Nevada ($4.95).
Mississippi claims the cheapest prices, averaging $3.09 per gallon, with Louisiana at $3.14 per gallon and then Georgia, where gas averages $3.16 per gallon.
"All streaks must end at some point," AAA spokesman Andrew Gross said earlier this week. "The big factors on global oil prices are war, COVID, economic slowdown and hurricane season."
Gas prices skyrocketed earlier this year following Russia's invasion of Ukraine, reaching a record high of $5.02 on average in the US on June 14. Demand. The pace of the fall slowed significantly over the past week, however, indicating that the long-term downside was likely to end.
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Russian President Vladimir Putin's bleak speech on Wednesday announcing a "partial mobilization" of Russian military reservists will fuel concerns about an intensifying war. Hurricane season has also taken a worrying turn, with forecasters now tracking Category 4 Hurricane Fiona, Tropical Storm Gaston and three other disturbances.
Putin taps 300,000 reservists to fight in Ukraine as he supports referendum in Russian-occupied territories (Forbes)
Gas in these 10 states—with a higher chance of falling below $3.50 a gallon (Forbes)
As US gas prices top $5, here are the states where it's most expensive and cheapest (Forbes)
More tropical threats brew in the Atlantic as Hurricane Fiona hits Category 4 strength (Forbes)
Credit: www.forbes.com /