Commodities
August Gas Prices Poised to Set Record High
The national average price of regular gasoline remains high at $4.09 per gallon, according to AAA's latest press release. The only change from last week is a one-cent decrease in the national average. However, crude oil prices remain volatile due to ongoing tensions in the Strait of Hormuz.
Due to this volatility, the price of crude oil remains in the $80 per barrel range. As a result, gasoline prices continue to rise, with August poised to set a new record as the most expensive month on record at the pump. The previous record was set in 2022.