Average price at the pump surpasses $4.00 per gallon nation wide

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• The national average gasoline price at the pump surpassed $4.00 per gallon Sunday, and stands at $4.07 Monday, according to AAA.
• The record national average gasoline price, reached in July 2008, was $4.11 per gallon.
• California remains the leader, with state-wide prices above $5.34 per gallon, while prices in San Francisco average $5.50 per gallon.
• Refiners appear to be successfully passing through higher oil prices (NYSEARCA:USO), as Valero's (NYSE:VLO) Gulf-cost refining indicator margin surpassed $20 per barrel last week, marking a high for the year.
• The industry's attention remains largely focused on policy, as the war in Ukraine raises the likelihood of additional SPR releases, fresh import sanctions and reinstatement of the crude export ban.