By Ovunc Kutlu
ANKARA (AA) - US gasoline prices continued to climb Wednesday from their highest level in almost 14 years and are up 16% in one week, according to data compiled by Anadolu Agency.
The national average stood at $4.252 per gallon for regular gasoline, up from $4.173 on Tuesday when it stood at its highest since July 2008, showed the data by American Automobile Association (AAA).
The price of regular gasoline saw an increase of 1.9% from the previous day, while it is up 16.3% from a week ago when it stood at $3.656 a gallon.
It marked a whopping 22.6% monthly increase from $3.469 last month and 52.1% from $2.796 a year ago.
The highest price was in the state of California at $5.573.
That was followed by Hawaii and Nevada at $4.772 each.
The state with the cheapest price was Kentucky at $4.01.
US President Joe Biden announced a ban on Russian energy imports Tuesday, which includes crude oil, coal and liquified natural gas.
The UK, in addition, said it will phase out imports of Russian oil by the end of the year.
The move carried crude prices to their highest level in almost 14 years, with international benchmark Brent climbing above $139 and American benchmark West Texas Intermediate hitting $130.5.
Those prices were off more than 5% Wednesday.
Brent crude price was down almost 6% to $120.3 per barrel at 11.40 a.m. EDT. WTI fell 5.5% to 117.1%.
Russia is one of the three major oil-producing and exporting countries in the world, along with the US and Saudi Arabia.
It is also a member of OPEC+, which includes Saudi-led OPEC and its allies.
OPEC+ met Wednesday and agreed to stick to their plan of ramping up production by 400,000 barrels per day through April.
A prolonged war in Ukraine, or its spillover to other regions, in addition to sanctions on the Russian oil sector and exports, could push crude and gasoline prices even higher.