With gasoline prices at a 14-year high, it’s hard to imagine paying even more at the pump. Yet prices are only heading higher. On Sunday, the national average for a gallon of gas hit $4.009, the highest since July 2008, according to data from AAA. An increase in demand along with a reduction in supply is quickly driving up prices at gas stations, the automotive group said. Oil prices gave up most of their big overnight gains in a wild session, briefly dipping into negative territory after surging above $130 earlier in the session. On Sunday evening, prices jumped as trading began with the market reacting to supply disruptions stemming from Russia’s ongoing invasion of Ukraine and the possibility of a ban on Russian oil and natural gas.
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