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AP National Business

US gasoline soars to a record $4.17 per gallon

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Published 10:04 AM

By MICHELLE CHAPMAN
AP Business Writer

The average price for a gallon of gasoline in the U.S. hit a record $4.17 on Tuesday as the country prepares to ban Russian oil imports. The average price rose by 10 cents per gallon in one day, and it’s up 55 cents since last week, according to AAA data. Total domestic gasoline stocks decreased by 500,000 bbl to 246 million bbl last week, according to new data from the Energy Information Administration. Meanwhile, gasoline demand rose slightly from 8.66 million b/d to 8.74 million b/d. 

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