(NewsNation) — Gas prices are the highest in American history as the average price hit a record $4.25 on Wednesday, according to AAA.
“Boy, oh, boy, it makes some challenging times,” said Denny Heffron.
With the ban on Russian fuel and the invasion continuing in Ukraine, the cost per gallon is constantly heading north.
GasBuddy petroleum analysis head Patrick De Haan agrees. He says motorists are going to be met with more increases at the pump before slowdown is seen.
“Keep in mind right now, we’re kind of in the middle of a marathon. Some states are running that marathon faster. Their prices are going higher faster, but they will slow down,” he said on “Morning in America.” “Other states are laggards. They are starting slow but they will ramp off and we will all kind of gets that finish line and it’s not going to be a pretty one.”
De Haan said Americans may soon see $4.50 per gallon.
“Forget the $4 per gallon mark, the nation will soon set new all-time record highs, and we could push closer to a national average of $4.50/gal. California could be heading for $5.50 per gallon, with more stations charging $6 and beyond,” De Haan said.
President Joe Biden said he “can’t do much right now” when asked what he could do about rising fuel prices.
“Russia is responsible,” he added.
The higher prices could get higher as Americans are already facing the economic woes of high inflation, persistent supply chain issues and the continued Russian invasion of Ukraine.
The White House said Tuesday that it had committed to releasing 90-plus million barrels from the reserve this fiscal year to help relieve Americans at the pump.