National average for gasoline hits record $4.37 a gallon

Gasoline prices surged to the highest level on record Tuesday as oil holds steady above $100 a barrel, contributing to inflationary pressures across the economy.

The national average for a regular gallon of gas hit an all-time high of $4.374 on Tuesday, according to AAA. The price is not adjusted for inflation.

Prices have been rising at a fast clip, with the ascent accelerating after Russia invaded Ukraine, sending energy markets reeling.

The national average crossed above $4 in March for the first time since 2008, and has remained above ever since.

Consumers...