US gas prices jump to record highs

Gas prices in the U.S. continue to soar through the summer.
Gas prices in the U.S. continue to soar through the summer.(MGN)
Published: Jun. 1, 2022 at 1:04 PM EDT
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(CNN) – Millions of people across the U.S. are facing even higher gas prices.

The national average for regular gasoline jumped five cents Wednesday, hitting a new all-time record of $4.67 a gallon.

AAA also reports that seven states now average $5 a gallon or higher, including California and, more recently, Illinois.

Soaring gas prices are led in part by strong demand as people ramp up travel plans and a sluggish supply.

The jump also comes after the European Union reached a deal to ban 90% of its Russian oil imports by the end of the year.

Prices are expected to keep surging.

One analyst said he expects the national average to hit $4.75 in the next 10 days.

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