US gas prices soar to 13-year high over Russia's Ukraine operation

US gasoline prices have reached a 13-year high as Western sanctions on Russia over its military operation in Ukraine continue to disrupt the global energy market.

Average US regular-grade gasoline prices hit $4.009 per gallon on Sunday, marking an 11-percent increase from $3.604 a week ago and up 45 percent from $2.760 just a year ago, the country’s AAA automobile club announced in a statement on Monday.

According to the AAA, which has data going back to 2000, US retail gasoline prices had hit a record $4.114 per gallon on July 17, 2008, which was around the time the US crude futures soared to a record $147.27 per barrel.

US gasoline futures, meanwhile, also climbed to a record $3.890 per gallon on Sunday.

The most expensive gas in the United States is in the western state of California at $5.288 per gallon, followed by states of Hawaii ($4.695), Nevada ($4.526), and Oregon ($4.466), AAA noted.

Gasoline price provider, GasBuddy, said the average price of US gasoline climbed nearly 41 cents per gallon, surpassing $4 for the first time in almost 14 years, and stands just 10 cents shy of the all-time record of $4.103 per gallon.

GasBuddy also noted that the weekly increase was the second-largest ever, following a jump of 49 cents per gallon during the week of Sept. 3, 2005, after Hurricane Katrina tore through the US southern Gulf Coast.

"Increasing oil prices continue to play a leading role in pushing prices higher," AAA stated in a press release, predicting that "pump prices will likely continue to rise as crude prices continue to climb."

The development came after Washington declared earlier on Sunday that the US and its European allies are discussing a ban on Russian oil imports as a means of stepping up their punitive measures against Moscow over its military operation in neighboring Ukraine.

US, European allies ‘discuss banning Russia oil imports’

The US and its European allies are discussing banning Russian oil imports over the operation in Ukraine.

"We are now in very active discussions with our European partners about banning the import of Russian oil to our countries," US Secretary of State Antony Blinken said in an interview with NBC's ‘Meet the Press’.

The US and its European allies were quick to slap sanctions against Russia over the military operation, which Moscow insists is aimed at demilitarizing the neighboring country and preventing the US-led NATO military alliance from reaching its doorsteps.

The bans led to soaring oil prices in global markets, as US crude futures increased more than 12 percent to $130.50 per barrel late Sunday.

Brent crude nears $140 per barrel

Meanwhile, reports said Brent oil prices jumped to nearly $140 per barrel on Sunday, the highest it has been since 2008, as traders fretted over the fallout from the Ukraine conflict.

Brent North Sea crude oil for May delivery reached $139.13 shortly after electronic trading opened around 2300 GMT, before retreating slightly over the next hour, AFP said in a report on Monday, noting that the European benchmark crude hit its record price of $147.50 per barrel back in 2008.

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