Gas prices are increasing the most in these states
The national average for a gallon of gasoline rose to $4.24
Gas prices remain elevated due to increasing geopolitical tensions and high demand for travel.
On Thursday, the national average for a gallon of gasoline rose to $4.24, according to recent data from AAA.
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"Two factors lead to pressure on pump prices, hitting drivers right in the wallet – rising domestic demand for gasoline and surging global crude oil prices," AAA spokesperson Andrew Gross told FOX Business.
As of midday Thursday, U.S. West Texas Intermediate traded around $108 a barrel. It went climbed $5.40 a barrel on Wednesday after the European Union’s top official on Wednesday called on the 27-nation bloc to ban oil imports from Russia, according to Gross.
A man checks gas prices at a gas station in Buffalo Grove, Ill., Saturday, March 26, 2022. (AP Photo/Nam Y. Huh / AP Newsroom)
The proposals must be unanimously approved to take effect and are likely to be the subject of fierce debate. But if it does, "that's going to really put some constraints on oil supplies all around," according to Gross.
Since oil costs count for 60% of the pump price, the higher the cost of oil, the more expensive the gasoline is.
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Over the past week, 10 states saw the cost for a gallon of gasoline jump at least 16 cents. Michigan led the way, with prices in the state rising as much as 30 cents per gallon.
Here are the top 10 states that saw prices rise the most since last Thursday:
- Michigan: 30 cents
- Ohio: 19 cents
- Washington, D.C.: 18 cents
- Pennsylvania: 17 cents
- New Jersey: 17 cents
- Connecticut: 16 cents
- West Virginia: 16 cents
- Indiana: 16 cents
- North Carolina: 16 cents
- Vermont: 16 cents
The Associated Press contributed to this report.