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Oil surge has gas breach $5 a gallon in first US city
The average price for a gallon of gasoline in the US is $3.728
By Daniella GenoveseFOXBusinessvideo
Oil prices could hit $123 per barrel by the end of March: Analyst
The Schork Group principal Stephen Schork initially predicted Brent crude will hit $116 per barrel this month and notes it only took a few days to hit that mark.
San Francisco has become the first city in the United States to breach an average of $5 a gallon, according to an industry expert as the Russia-Ukraine conflict juices oil prices, which topped $113 in trading Thursday.
“It’s been quite ugly as gas prices rise nationally, but nowhere has the pain been more significant than California, where prices have breached the $5 gallon mark,” Patrick De Haan, head of petroleum analysis for GasBuddy, told FOX Business Thursday.
OIL PRICES SURGE TOWARD $110 PER BARREL DESPITE RELEASE OF SUPPLIES
Currently, the state average for a gallon of regular gasoline in California is $4.940, according to AAA. It’s a significant leap from the national average of about $3.728, according to AAA data. …….More Here
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