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With Russia’s invasion of Ukraine inflating crude oil prices, the average cost of a gallon of regular-grade gasoline rose by 39 cents in Fresno this past week to $5.56, according to AAA.
Meanwhile, the national average shot up to a record $4.43, industry analyst Trilby Lundberg said. That’s a 22% national increase over the past two weeks and $1.54 a gallon higher than a year ago.
The previous U.S. high of $4.11 was set in July 2008.
Prices were escalating before Russia invaded Ukraine because of post-lockdown demand. In addition, crude oil prices had dropped in early 2020 as economies around the world shut down because of COVID-19.
How to Find Lowest Fresno Prices
To find the Top 10 cheapest gas prices in the Fresno area, use this gasbuddy.com link.
Mono Winds Casino in the foothills town of Auberry leads the way at $4.78 a gallon. The Fastrip in Sanger on Academy Avenue has gas at $4.95 a gallon. Several outlets, including the Walmart on East Kings Canyon Road in Fresno, are at $4.99 a gallon.
The highest gas prices in the nation are in San Francisco with the average at $5.79 a gallon for regular. The lowest average is in Tulsa, Oklahoma, at $3.80 per gallon.
The average price of diesel has also spiked, rising by $1.18 over two weeks, to $5.20 a gallon, according to the Lundberg Survey. Diesel costs $2.11 more than a year ago.
In Fresno, diesel averages $6.20 a gallon. A month ago, the price for diesel in Fresno averaged $4.87, according to AAA. A year ago, it was $3.86.
$5 a Gallon Is Tipping Point for Californians
New survey data from AAA indicates that with the national average above $4, Americans may have reached a tipping point.
Fifty-nine percent of respondents said they would make changes to their driving habits or lifestyle if the cost of gas rose to $4 per gallon. And, if gas reaches $5.00, which it has in western states, three-quarters said they would adjust their lifestyles.
There could be good news on the horizon. On Monday, a barrel of U.S. crude fell more than 8% toward $100 after touching $130 last week. Brent crude, the international standard, fell 6.7% to $105.09.
(Associated Press contributed to this report.)
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