Gasoline's record run pauses
Gas hit a record high Friday at $4.33 per gallon, according to AAA
Inflation 'very ugly situation right now': Stephen Schork
The Schork Group principal Stephen Schork says oil and gasoline are already 'at crazy levels' and warns that prices will only continue to rise as travel demand increases over the summer.
The average price for a gallon of gasoline in the U.S. put the brakes on a record streak over the weekend.
The price slipped by about a half-cent to $4.325 Sunday.
Gas hit a record high Friday at $4.33 per gallon, according to AAA.
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U.S. motorists were reeling over gas prices even before the national average surpassed record highs last week.
However, two-thirds of Americans said gas prices were already too expensive even when the national average hit $3.53 per gallon a few weeks ago, according to a AAA survey.
More than half of motorists, 59%, admitted that if prices hit $4 a gallon, they would make changes to their driving habits or lifestyle, according to the data.
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The national average has continued to rise since the beginning of the year due to strained supply and increased demand, according to Edmonds. However, Russia’s invasion of Ukraine two weeks ago caused oil prices to surge higher, pushing prices at the pump to levels not seen in over a decade.
FOX Business' Daniella Genovese contributed to this report.