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Gas prices surge overnight – the highest jump since Hurricane Katrina

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Gas prices have skyrocketed overnight to the highest gas prices seen since 2012, and the biggest jump since Hurricane Katrina in 2005. 

According to CNN, the national average price for a gallon of regular gas is at $3.84 a gallon as of Friday, according to AAA. Gas prices have increased 18 cents since Wednesday, and 29 cents since Russia invaded Ukraine.

Each of these are greater spikes than when Hurricane Katrina devastated the US Gulf Coast, along with the country’s oil and gas industry. As prices continue to rise, the previous record for the national average ($4.11 set in 2008) will likely be smashed soon.

Tom Kloza, global head of energy analysis for the Oil Price Information Service said, “This is not the end of it. We’re already up another 14 cents on wholesale gas prices this morning. It’s absolutely out of control.”

A year ago, the national average price was $2.75 a gallon. This is largely due to prices recovering from the pandemic and a significant reduction in demand for gas.

Kloza also stated that he could see average prices rise to $4.25 to $4.50 a gallon. “When you get increases this quick, and this dramatic, you really scald the public,” he said.

Currently nine states, including California, Hawaii, Nevada, Oregon, Washington, Alaska, Illinois, New York, and Pennsylvania, have surpassed $4 a gallon.

ARTICLE: JILLIAN WEIDNER

MANAGING EDITOR: CARSON CHOATE

PHOTO CREDITS: ABC57.COM

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Jillian Weidner

I was born and raised in Omaha, NE before moving to Sioux Falls, SD to attend college at Augustana University. This past May I graduated from Augustana with a Bachelor of Arts in Spanish and Biology with an emphasis in Allied Health. I first discovered FBA through my involvement with Turning Point USA where I worked as a Campus Coordinator in college. I have a passion for politics and activism, and was drawn to FBA’s dedication to spreading the truth. Unbiased news is rare in today’s society, so I wanted to be a part of FBA’s mission to change that.

I was born and raised in Omaha, NE before moving to Sioux Falls, SD to attend college at Augustana University. This past May I graduated from Augustana with a Bachelor of Arts in Spanish and Biology with an emphasis in Allied Health. I first discovered FBA through my involvement with Turning Point USA where I worked as a Campus Coordinator in college. I have a passion for politics and activism, and was drawn to FBA’s dedication to spreading the truth. Unbiased news is rare in today’s society, so I wanted to be a part of FBA’s mission to change that.

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