Gas prices are surging – how high will they go?

pumping gas
Photo credit Getty Images

If you feel like you've been pumping more money into your gas tank lately, you're not alone. For the first time in 2024, the national average price for a gallon of gas is higher than it was a year ago -- and analysts expect it to continue climbing.

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The national average for a gallon of regular gasoline hit $3.33 on Friday, according to AAA. That's 7 cents higher than a week ago and 18 cents more than last month's average.

AAA says the upward trend is likely to continue as travelers start heading out of town for Spring Break.

"We're entering Spring Break season, and historically, March and April bring higher gas prices as demand rises," AAA spokesperson Aixa Diaz said in a statement. "With milder temperatures come more road trips, and this time of year tends to be a precursor to the summer driving season."

So, just how high will prices go? The national average has seen a 31 cent jump since January 21 and is now at its highest level since November 15, according to Patrick De Haan, head analyst with GasBuddy.

Average gas prices in all 50 states are higher than a month ago, and 36 states have seen average gas prices rise from a week ago -- a trend De Haan expects to continue.

"The seasonality is here, and prices are likely to continue rising in a majority of states (if not all) over the next month," he wrote on X.

De Haan told WBRC he anticipates prices to peak in March and May by another 25 to 50 cents before finally decreasing in the fall.

California currently leads the nation in high gas prices with an average of $4.76 per gallon, AAA reports.

Top 10 most expensive markets
1. California - $4.76
2. Hawaii - $4.70
3. Washington - $4.10
4. Nevada - $4.00
5. Oregon - $3.83
6. Illinois - $3.70
7. Alaska - $3.57
8. Pennsylvania - $3.49
9. Washington, D.C. - $3.43
10. Indiana - $3.43

The cheapest gas is in Mississippi, where the average price is $2.87 per gallon, per AAA.

Top 10 least expensive markets
1. Mississippi - $2.87
2. Kansas - $2.93
3. Colorado - $2.94
4. Oklahoma - $2.94
5. Texas - $2.94
6. Missouri - $2.95
7. Louisiana - $2.96
8. Arkansas - $2.97
9. Wyoming - $2.98
10. Tennessee - $3.01

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