Why US gas prices are at a record, and why they’ll stay high for a long time
Russia’s invasion of Ukraine is a major reason that US drivers are paying record prices for gasoline. But it’s not the only cause of the spike.
Numerous factors are pushing prices up, with regular gasoline hitting a record $4.87 a gallon Monday according to AAA’s survey — up 25 cents a gallon in just the last week.
Gas prices were already expected to breach the $4 a gallon mark for the first time since 2008, with or without shots fired in Eastern Europe or economic sanctions imposed on Russia. But now the...