Gas prices close in on $5 a gallon in US, hit record in UK

(KYMA, KECY/ AP News) - The average price that Americans pay for gasoline is closing in on $5 a gallon, another drain on the wallets of consumers who are paying more for many other essentials too.

AAA said the nationwide average for regular on Thursday was $4.97 a gallon, up a quarter in just the last week and $1.90 more than drivers were paying a year ago.

Gasbuddy, a service that helps drivers find deals on gas, said the average surpassed $5 for the first time ever.

Pump prices have been rising steadily for months, shooting past the $4 mark in early March. They track the cost of crude oil, which was rising even before Russia’s invasion of Ukraine drove oil even higher.

California has the highest average price, at $6.40 a gallon, according to AAA.