You can be on Entrepreneur’s cover!

28 U.S. States Have Just Hit the Highest Average Gas Prices in Their History, National Average Breaks Record The national average price per gallon of gas hit record highs on Tuesday.

By Emily Rella

entrepreneur daily

Jeff Gritchen/MediaNews Group/Orange County Register via Getty Images
Jeff Gritchen/MediaNews Group/Orange County Register via Getty Images

Gas prices may have seemed to begun to level out in the past two weeks or so, but unfortunately, it looks like the price hikes are far from over.

Overnight on Monday, the national average gas price per gallon jumped roughly five cents to $4.374 on Tuesday, an all-time high for the country that doesn't appear to be slowing down any time soon.

Prior to this week, March 11 of this year held the record for the highest national average ever with $4.33 per gallon.

Tuesday's average is a shocking $1.407 increase from where national averages were one year ago, per AAA.

Diesel was also seeing sky-high numbers, with the national average up to $5.55 per gallon.

Related: Shell Rakes in $9.1 Billion in First Quarter. What Does It Mean for the Rising Cost of Living?

Long lines at gas stations and never-before-seen high prices to fill up tanks have been plaguing Americans in recent months due to supply-chain issues, inflation and fuel disruptions as a result of the conflict between Russia and Ukraine.

"Russian oil coming off the global market would come with a cost, and Americans are seeing that at the pump," the White House said at the end of March.

Prices seemed to temporarily level (even drop off) in April when the U.S. began tapping its oil reserves to put more fuel on the market, but over a month later, inflation seems to be rising again.

As far as individual states go, New York reached record highs on Tuesday of $4.671 per gallon, nearly 30 cents above the national average.

Related: U.S. Natural Gas Prices Skyrocket to Record High Unseen Since 2008

Other states that saw record highs on Tuesday were Illinois ($4.693 per gallon), Oregon ($4.851), Washington ($4.871), Idaho ($4.4.84), Colorado ($4.101), Montana ($4.226), Wyoming ($4.220), New Mexico ($4.211), South Dakota ($4.099), Texas ($4.068), Iowa ($4.083), Wisconsin ($4.177), Indiana ($4.328), Tennessee ($4.125), Kentucky ($4.096), West Virginia ($4.198), Ohio ($4.177), Michigan ($4.346), Rhode Island ($4.413), New Hampshire ($4.342), Maryland ($4.414), Washington D.C. ($4.711), Hawaii $5.299, Pennsylvania ($4.541), New Jersey ($4.490), Delaware ($4.404) and Massachusetts ($4.427).

"With the cost of oil accounting for more than half of the pump price, more expensive oil means more expensive gasoline," Andrew Gross, a spokesperson for AAA, said in a statement per NBC News. "These prices are creeping closer to those record high levels of early March."

With Memorial Day and summer travel season just around the corner, it's clear that the demand for fuel will do anything but stay stagnant, let alone decrease.

As of late Tuesday afternoon, WTI crude oil was estimated to be 99.58 per barrel.

Emily Rella

Entrepreneur Staff

Senior News Writer

Emily Rella is a Senior News Writer at Entrepreneur.com. Previously, she was an editor at Verizon Media. Her coverage spans features, business, lifestyle, tech, entertainment, and lifestyle. She is a 2015 graduate of Boston College and a Ridgefield, CT native. Find her on Twitter at @EmilyKRella.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Business News

Samsung Makes 6 Day Workweeks Mandatory for Executives as the Company Enters 'Emergency Mode'

Samsung said its performance "fell short of expectations" last year. Now executives are required to work weekends.

Business News

I Tried Airchat, the Hottest New Social Media App in Silicon Valley — Here's How It Works

Airchat is still invite-only and prioritizes voices with no option to upload photos or write text, making it feel more human than Facebook or Reddit.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Growing a Business

They Designed One Simple Product With a 'Focus on Human Health' — and Made $40 Million Last Year

Marilee Nelson, Allison Evans and Kelly Love founded cult-favorite cleaning brand Branch Basics in 2012.

Business News

The FBI Is Warning of a New Text Message Scheme Claiming Unpaid Toll Road Charges

The agency estimates the grift has been ongoing since early last month.