As the Russian invasion of Ukraine continues, gasoline prices are skyrocketing across the Bay Area and the greater United States, reaching all-time record highs.
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Nationally, the average price of gas is $4.104 per gallon, breaking records set in 2008, but the Bay Area is paying even more, forking over $5.509 a gallon in Marin County and $5.505 in Napa, the Automobile Association of America and GasBuddy reported Monday.
Other regions follow closely behind, with San Francisco paying $5.501 for gas, Sonoma paying $5.48 and San Mateo paying $5.474. Across the U.S., California has the highest gas prices of any other state.
To combat the spiking prices, the International Energy Agency announced a coordinated release of crude oil from 31 member countries, including the U.S., Germany, Canada, South Korea and Mexico. However, the combined oil is small in comparison to the amount provided by Russia, AAA said.
According to IEA, Russia exports approximately 5 million barrels of crude oil per day, representing about 12% of its global trade.
In addition to setting a new all-time gas price high, the national average grew 49.1 cents per gallon within the past week, eclipsing the record of 49.0 cents set one week after Hurricane Katrina in 2005.
According to GasBuddy, gas prices have not reached these levels since 2008, just ahead of the U.S. Great Recession and housing crisis.
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