Average US gas price hits $5 for first time

Update on gas price in the US

For the first time ever, a gallon of regular gas now costs $5 on average nationwide, according to AAA's Saturday reading, Qazet.az reports according to CNN.

The record is hardly a surprise. Gas prices have been rising steadily for the last eight weeks, and this latest milestone marks the 15th straight day that the AAA reading has hit a record price, and the 32nd time in the last 33 days.

The national average stood at $4.07 when the current run of price increases began April 15. The current price reading from OPIS represents 23% increase in less than two month.