Gas prices across the United States hit yet another record high on Tuesday at $4.37 per gallon, per the American Automobile Association, up five cents overnight from the near-record of $4.32 on Tuesday.

What You Need To Know

  • Gas prices across the United States hit yet another record high on Tuesday at $4.37 per gallon, per AAA

  • The current price marks a four-cent increase from the previous national record set on March 11

  • The automobile agency attributed the rising cost to the skyrocketing price of crude oil, which approached $110

  • The new record high has put fresh pressure on the Biden administration to address rising costs and inflation

The price represents a four-cent increase from the previous national record set on March 11, when a gallon of regular unleaded gas cost $4.33, according to AAA. 

The automobile agency attributed the rising cost to the skyrocketing price of crude oil, which was approaching $110 on Monday, up from $100 the week before. 

“With the cost of oil accounting for more than half of the pump price, more expensive oil means more expensive gasoline,” AAA spokesperson Andrew Gross wrote in a statement. 

The cost of diesel also shot up to $5.55 per gallon, up from $5.54 the day before. 

Gas in some states sits well above the national average. In California, the cost of a gallon of unleaded gas is currently $5.84 while the cost of diesel is $6.52; the cost of gasoline in both Nevada and Hawaii are also above the national average at $5.12 and $5.29, respectively. 

Analysts say crude prices are unlikely to fall as long as the supply remains tight. Tracy Noble, spokesperson for AAA Mid-Atlantic, says it now costs drivers in the United States an average of about $23 more to fill up than it did a year ago.

The new record high has put fresh pressure on the Biden administration to address rising costs and inflation across the market in general. 

The president delivered remarks on Tuesday outlining how he plans to take “concrete, common sense steps to bring down the biggest expenses families are facing,” including the price at the pump, a price cap for certain medical supplies and lowering the cost of child care. 

Biden called on domestic companies to employ the nearly 9,000 unused oil leases currently approved across the country, saying: "Under my plan, they would have to pay taxes if they don't use those leases to produce more oil. They just can't sit on it."

President Joe Biden pointed largely at Russia’s invasion of Ukraine as reason for the increased cost of oil, saying in part: "We saw in March that 60% of inflation that month was due to price increases at the pump for gasoline." The United States has already banned imports of Russian oil, gas and coal; on Sunday, the "entire G7 committed to phasing out or banning the import of Russian oil," per a release from the White House. 

The Associated Press contributed to this report.