U.S. gas prices top $4 a gallon for first time since 2008

The average cost for a gallon of regular gasoline has surpassed $4 per gallon for the first time since 2008. 

"As Russia's war on Ukraine continues to evolve and we head into a season where gas prices typically increase, Americans should prepare to pay more for gas than they ever have before," Patrick De Haan, head of petroleum analysis for GasBuddy, said in a statement.

U.S. crude jumped $5.21 to $120.89 a barrel in electronic trading on the New York Mercantile Exchange, while the global benchmark topped $130. The record high for oil prices was $147.50 in July 2008, according to Bloomberg.