Gas prices increased the most in these states
California, Hawaii, Nevada still have the highest prices in the country
FOX Business Flash top headlines for March 10
Here are your FOX Business Flash top headlines for March 10.
Although California is still reeling from having the highest gas prices in the nation, several other states have seen significant increases after Russian forces invaded Ukraine.
In the first week of March, 10 states saw prices at the pump increase more than 50 cents, according to AAA.
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Prices are already hitting new records, with the national average surpassing $4 per gallon Sunday for the first time in 14 years. As of Thursday, the national average for a gallon of regular gasoline reached $4.318, a nearly 60-cent increase from a week ago, according to AAA data.
Gas prices are displayed at a Mobil gas station in West Hollywood, Calif., Tuesday, March 8, 2022. (AP Photo/Jae C. Hong / AP Newsroom)
The price of oil, which accounts for 50% of what consumers pay at the pump, has been climbing even before Russia's invasion. President Biden on Tuesday announced a ban on Russian oil imports, warning it will have an impact on Americans when filling up their cars.
"Putin's war is already hurting American families at the gas pump since Putin began his military buildup on Ukrainian borders," Biden said. "And with this action, it's going to go up further. I'm going to do everything I can to minimize Putin's price hike here at home and coordination with our partners."
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Currently, California, Hawaii and Nevada have the highest prices in the country with state averages sitting at $5.34, $4.69 and $4.59 a gallon, respectively.
Rhode Island had the biggest weekly increase with prices in the state rising 58 cents, nearly as much as the national average.
The 10 states that saw the largest weekly increases
- Rhode Island: +58 cents
- Nevada: +57 cents
- Connecticut: +56 cents
- Kentucky: +56 cents
- Alabama: +56 cents
- West Virginia: 55 cents
- Virginia: +55 cents
- Massachusetts: +54 cents
- New Hampshire: +52 cents
- New Jersey: +52 cents
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Gas prices are displayed at gas stations in Leonia, N.J., Monday, March 7, 2022. (AP Photo/Seth Wenig / AP Newsroom)
The nation’s 10 most expensive markets, according to AAA
- California $5.34
- Hawaii $4.69
- Nevada $4.59
- Oregon $4.51
- Washington $4.44
- Alaska $4.39
- Illinois $4.30
- Connecticut $4.28
- New York $4.26
- Pennsylvania $4.23