US gas hits a record: $4.17 a gallon

US drivers have never paid this much for gasoline. The price for a gallon of regular gas now stands at $4.17, according to AAA.

That breaks the previous record of $4.11 a gallon that has stood since July 2008.

As Russia continues its military offensive in Ukraine, gas prices are rising faster than they have since Hurricane Katrina slammed into oil platforms and refineries along the US Gulf Coast in 2005.

Gas prices rose 10 cents since early Monday, gaining three of those cents overnight, according to the Oil Price Information Service, the firm that collects and calculates prices for AAA. The price data is calculated on a dynamic basis with pricing information from 140,000 US gas stations. OPIS confirmed Monday evening that a new record of $4.14 a gallon had been reached. But enough stations raised their prices further later Monday and early Tuesday to lift the average to $4.17.

The $4.17 average means that the price is up 55 cents a gallon in just the last week, and 63 cents, or 18%, since February 24, the day Russian forces invaded Ukraine.