As if 40-year high inflation wasn't bad enough, record-high gas prices have set New Bedford area residents back on their heels. Not only have pump prices shot upwards, but they have done so at breakneck speed.

"Massachusetts' average gas price is up 54 cents from last week ($3.62), averaging $4.16 per gallon," according to AAA Northeast Director, Public and Government Affairs Mary Maguire.

Maguire added, "This is the highest average price ever recorded by AAA in Massachusetts."

And that was on Monday.

On Tuesday morning, AAA said gas had gone up to an average of $4.24 per gallon in Massachusetts, an eight-cent jump from Monday. Yet prices are even higher here on the SouthCoast and across New Bedford.

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Maguire expects gas prices to continue to rise, especially as President Joe Biden today announced a ban on importing Russian oil to the U.S.

"The negative impact of these explosive prices on American consumers will only increase in the near term," Maguire said.

GasBuddy, which also tracks gas prices, had similar findings.

"There are few words to describe the unprecedented rise in gasoline prices over the last week, with massive spikes coast to coast in both gasoline and diesel prices, as oil prices jump to their highest since 2008," said Patrick De Haan, head of petroleum analysis at GasBuddy.

De Haan said gas prices are in uncharted territory.

"We've never been in this situation before, with this level of uncertainty," he said. "Americans will be feeling the pain of the rising prices for quite some time, with little good news foreseen."

The sharp rise in gasoline prices has prompted some on Beacon Hill to call for the suspension of the state's gasoline tax until the crisis eases.

What prices are you seeing at the gas pumps near you? How will the spike in gas prices impact your life? Could the hike in gas prices affect your summer vacation plans in any way?

New Bedford Gas Prices on Monday, March 7

As gas prices continue to rise, this is just a snapshot of what prices were on Monday, March 7, one day before President Joe Biden banned all Russian oil from entering the country.

LOOK: See how much gasoline cost the year you started driving

To find out more about how has the price of gas changed throughout the years, Stacker ran the numbers on the cost of a gallon of gasoline for each of the last 84 years. Using data from the Bureau of Labor Statistics (released in April 2020), we analyzed the average price for a gallon of unleaded regular gasoline from 1976 to 2020 along with the Consumer Price Index (CPI) for unleaded regular gasoline from 1937 to 1976, including the absolute and inflation-adjusted prices for each year.

Read on to explore the cost of gas over time and rediscover just how much a gallon was when you first started driving.

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