Gas is averaging over $5 a gallon for the first time in D.C.

WAMU/DCist / Ruth Tam

Over the weekend, D.C. passed an unwelcome milestone: $5 a gallon for gas.

It’s the first time the District has passed that marker, with gas now averaging $5.03 a gallon, per GasBuddy.com.

Patrick De Haan, head of petroleum analysis at GasBuddy calls that number “psychologically critical,” a price barrier where consumers will start to think twice about driving.

“Gasoline inventories continue to decline even with demand softening due to high prices, a culmination of less refining capacity than we had prior to COVID, and strong consumption, a situation that doesn’t look to improve drastically anytime soon,” De Haan says in his blog. “Nine states have average gas prices that stand beyond the $5 per gallon mark, with more set to join in the days and weeks ahead.

“In addition, diesel prices also stand at a record high, a second gut-punch to consumers which pushes prices of most goods higher.”

Technically, gas prices felt higher in D.C. back in July 2008 when gas hit $4.36 a gallon, the equivalent of $5.86 in today’s dollars, adjusted for inflation.

Nonetheless, prices are rising as travel demand increases, and Americans are seeking “COVID-revenge travel” this summer, making up for two years of largely staying home.

Gas prices in the region and across the nation are continuing to reach new record highs week after week since Russia invaded Ukraine in February, and sanctions on Russian oil caused prices to increase. Analysts expect those gas prices to continue to climb this summer.

Gas prices are 60% higher than this time last year.

Maryland prices average at $4.86 and Virginia stands at $4.63 a gallon.