The regular rise of fuel costs within the U.S. handed a milestone on Monday, with drivers in all 50 states feeling the squeeze.

The American Car Affiliation (AAA) reported on Monday that the common worth of fuel within the U.S. had hit $3.44 per gallon, the best since 2014, in keeping with Nexstar. The extra hanging statistic, nonetheless, was the very fact the common costs in each state had formally surpassed $3, with Mississippi hitting $3.08.

Within the final month, the nationwide common rose by round $0.14, in keeping with AAA. Because the identical time final 12 months, it has risen by $1.

AAA attributed this continued climb to some components, together with chilly climate in lots of elements of the nation and the simmering tensions between Russia and Ukraine. Since August, these components and others have elevated the price of crude oil by $30 a barrel, to round $90.

gas prices rising february
Common fuel worth formally rose previous $3 per gallon in all 50 states on Monday. Above, prospects at a fuel station in Florida.Joe Raedle/Getty Photographs

"This reveals how occasions on the opposite aspect of the globe can have a noticeable affect proper right here within the U.S.," AAA spokesperson Andrew Gross mentioned. "And sadly for drivers, they're reminded of this by increased costs on the pump."

The latest spike in costs nationwide was pushed by a number of states greater than others within the final week. The next states noticed the sharpest weekly enhance in costs, in keeping with Nexstar: Michigan ($0.15), Ohio ($0.14), Florida ($0.12), Indiana ($0.11), Minnesota ($0.11), Delaware ($0.11), Maryland ($0.10), Illinois ($0.09), Wisconsin ($0.09), and Kansas ($0.09).

Whereas costs are, general, anticipated to maintain rising over the subsequent few months, Patrick De Haan, a number one analyst with GasBuddy, famous in a tweet that they could go down in a number of states attributable to a phenomenon often known as worth biking.

"Worth biking is frequent in MI, IN, OH, IL, WV, KY, FL and a few metro markets like St. Louis, Kansas Metropolis, Atlanta, and so on.," De Haan tweeted. "Costs surge, then stations begin undercutting, resulting in a giant spike then ebb."

De Haan additional defined to Nexstar that, owing to the continued Russia-Ukraine uncertainty, a $4-a-gallon nationwide common is just not out of the query by Memorial Day weekend. He additionally mentioned that costs have the strongest chance of dropping afterward in the summertime, although a number of components make such predictions tough these days.

Newsweek reached out to analysts at GasBuddy for perception into this story.

In January, the U.S. Power Info Administration predicted that the common worth of fuel would finally dip beneath $3, predicting $2.88 by the tip of 2022. The identical report additionally, nonetheless, predicted a drop to a median of $3.01 in January, which didn't come to move.