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Valley gas prices exceed 2008 highs amid Ukraine War, Russian oil crunch

Gasoline prices surged to the highest level since 2008 on Sunday, as crude oil supply fears stemming from Russia’s war on Ukraine increase the impact on consumers at the pump, CNBC reports.

The national average for a gallon of gas hit $4.009 on Sunday, according to AAA, which is the highest since July 2008, not adjusted for inflation. Prices have been rising at a fast clip. Consumers are paying 40 cents more than a week ago, and 57 cents more than a month ago.

In some places, consumers are paying much more. California’s average is now $5.288 per gallon.

Across the Valley floor, the Sunday average price for a gallon of gas cracked the historic highs for every market, last established in 2008 during the on-set of the Great Recession and an OPEC-led gas price spike:


Editor’s Note: Red prices reflect historic daily price highs for unleaded gasoline, diesel.

Staff reports from The San Joaquin Valley Sun staff.