WASHINGTON - The average price for a gallon of gasoline in the U.S. hit a new record high Monday.
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According to data from GasBuddy, the average price per gallon reached $4.104 yesterday -- surpassing the previous record of $4.103 set in 2008.
The national average is seeing its largest ever seven-day spike at 49.1 cents per gallon – which is higher than the 49.0 cent weekly rise after Hurricane Katrina in 2005, according to GasBuddy.
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Analysis: Record high gas prices and how much higher they could go
Economic expert John Quelch discusses record high gas prices and how much high those prices could go.
According to AAA, Tuesday's national average for a gallon of gas is $4.173.
Across the DMV, average gas prices are:
$4.346 in Washington, D.C.
$4.192 in Maryland
$4.103 in Virginia
"Americans have never seen gasoline prices this high, nor have we seen the pace of increases so fast and furious. That combination makes this situation all the more remarkable and intense, with crippling sanctions on Russia curbing their flow of oil, leading to the massive spike in the price of all fuels: gasoline, diesel, jet fuel and more," said Patrick De Haan, head of petroleum analysis at GasBuddy, in a press release. "It's a dire situation and won't improve any time soon. The high prices are likely to stick around for not days or weeks, like they did in 2008, but months. GasBuddy now expects the yearly national average to rise to its highest ever recorded."
Motorists can search for the cheapest gas prices near them on GasBuddy which also lists the cheapest gas by state and the nation's capital: