Gas prices continue modest decline after reaching record highs earlier this month

The price of a gallon nationwide has declined by several cents over past week.
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Gas prices in Los Angeles, Ca., Feb. 2022
Gas prices in Los Angeles, Ca., Feb. 2022
(PATRICK T. FALLON/Getty)

Gas prices across the United States continued to decline modestly as the week ended, showing tentative signs of coming back down after spiking to dizzying heights throughout most of March.

AAA's gas price index showed a "current average" across the country standing at $4.26 per gallon, down $0.01 from Friday and from $4.32 a week ago. 

The number still remains significantly elevated from that of a month ago, when according to AAA the average was $3.59. 

The spike in gas prices has been blamed on a variety of factors, including the violent Russian invasion of Ukraine and the resultant supply chain disruptions. 

Prices have been rising steadily since President Joe Biden's inauguration in January 2021 after declining from 2019 onward.