Gas prices climb 5 cents overnight, Americans are paying nearly $2 more from just one year ago

Americans are paying $1.87 more than they were just a year ago, when the price was $3.05 per gallon

Lawrence Richard / FOXBusiness

 

Gas prices are still on the rise and could soon reach $5 per gallon, a figure that has forced some Americans to rethink their leisure travel.

The national average gas price climbed five cents Monday night into Tuesday and 10 cents since Saturday, now hitting a record $4.92 per gallon, according to the American Automobile Association.

Americans are paying $1.87 more than they were just a year ago, when the price was $3.05, per the AAA.

According to an industry expert, the price for a gallon of gas could touch or surpass $5.00.

Andy Lipow, president of Lipow Oil Associates, told FOX Business that the hurricane season could disrupt oil production, further driving up the price of gas.

"A major storm making landfall along the Gulf Coast, where 15% of the nation’s oil production and over 45% of the nation’s refinery capacity is located, can result in a significant supply disruption sending prices even...Read more and see video here.