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Americans should get ready for $5 a gallon gas, analyst warns

Americans should get ready for $5 a gallon gas, analyst warns

CBSN
Thursday, March 03, 2022 01:41:45 PM UTC

Americans can expect increasing pain at the pump as rising oil costs continue to push up prices at gas stations across the U.S. That spike is unlikely to ease anytime soon as Russia's war with Ukraine intensifies, experts say.

The current national average price of gas is $3.61 a gallon, up 26 cents from February and roughly a dollar from a year ago, according to data from AAA. In U.S. states with the priciest fuel, motorists already are paying nearly $4.50 a gallon, according to price tracker GasBuddy. 

Patrick De Haan, head of petroleum analysis at GasBuddy, tweeted on Monday that the average gas price in some U.S. cities will reach $5 a gallon "in the next couple of weeks."

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