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Gas prices surge to above $4 a gallon, near a national record

A sign displays gas prices over $5 a gallon at a petrol station in Los Angele on March 4. Overall, gasoline prices have jumped by 45 cents a gallon in the last week, to a national average of $4.

The prospect that the U.S. and its allies could impose new sanctions on Russian oil pushed energy prices sharply higher. The average price of gasoline in the U.S. hit $4.06 per gallon.

(Image credit: Frederic J. Brown/AFP via Getty Images)


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