retail price for regular gasoline reached another record high Wednesday, sitting at $4.955 per gallon. That's 64 cents higher from a month ago and $1.89 higher than it was a year ago, according to AAA. With fuel demand increasing, oil prices rising and gasoline inventories at their lowest level for this time of year since 2014, gas prices have hit new records daily and are expected to continue to increase, Andy Lipow, president of Lipow Oil Associates, previously told FOX Business. GAS PRICES COULD REACH $5 THIS WEEK, EXPERT SAYSThe average retail price has already surged past $5 per gallon in at least 10 states with California leading the pack with an average over $6. But that's only the state average.
Prices in certain counties within each of those states have surged to even higher levels. Alaska state average per gallon: $5.42Arizona: $5.16California: $6.37Hawaii: $5.48GAS PRICES CLIMB 5 CENTS OVERNIGHT, AMERICANS ARE PAYING NEARLY $2 MORE FROM JUST ONE YEAR AGOIllinois: $5.45Indiana: 5.15 Michigan: 5.17Nevada: 5.52CLICK HERE TO READ MORE ON FOX BUSINESSOregon: 5.46Washington: $5.45 GET UPDATES ON THIS STORY AT FOXBUSINESS.COM
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