Gas Prices Skyrocket Over $5 Per Gallon in One Major U.S. City The West Coast city is seeing sky-high gasoline prices dollars above the national average.

By Emily Rella Edited by Jessica Thomas

Opinions expressed by Entrepreneur contributors are their own.

dkhoriaty | Getty Images

Upon Russia invading Ukraine, many Americans have been concerned with how the conflict will directly affect them, from supply chain issues, to inflation, to shortages of certain goods and services.

Most notably, many are concerned with fuel prices, worrying about long lines at gas stations and never-before-seen high prices when filling up their tanks.

It looks like those fears haven't been unfounded, as the first average gas price per gallon just skyrocketed over $5 in San Francisco.

Per AAA data, the current average price per gallon of gas in the United States is about $3.73, while the California state average is a whopping $4.94.

The average gas price at this time last year was an estimated $2.75.

This is the first time in U.S. history that gas has ever hit a $5 per gallon average in a city, according to oil and gasoline expert Patrick De Haan.

Oil prices shot up over $113 in trading on Thursday.

Emily Rella

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.

Side Hustle

After a 12-Year-Old's Side Hustle Made Over $4,000 in 1 Day, He and His Dad Grew the Business to Nearly $50,000 a Month: 'It Takes Commitment'

Madden Forrest and his father, Steven, turned their passion for football into a lucrative business.

Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.

Business Solutions

Discover How AI Can Transform the Way You Work With This $20 E-Degree

Learn how to make AI work for you with the ChatGPT and Automation E-Degree, now for just $20.

Business News

Here Are the 10 Highest-Paying Jobs For New Graduates With a Bachelor's Degree — and They All Start at Six Figures

According to a new report from Resume Genius, finding a high-paying job as a new grad is possible, even in this market.

Business News

10 Surprising and Inspiring Quotes From Brian Wilson, the Genius Behind The Beach Boys' 'Pet Sounds'

The Beach Boys' Brian Wilson died this week at age 82, but his music is still blowing minds.

Side Hustle

Use This AI-Powered Platform to Turn Your Side Hustle into a Scalable Business

Turn a side hustle into something sustainable with Sellful's ERP White Label plan.