Gas Prices Surge Past $4.32 per Gallon, Oil Over $100 Threatens Consumer Spending

The national average price of regular gasoline has jumped to $4.32 a gallon, its largest monthly increase in years.

This sharp rise comes after WTI crude cleared $97.26 a barrel and Brent traded above $100 on September 9.

Interactive Brokers senior economist Jose Torres warned that oil prices above $120 pose a significant risk to consumer spending, which he put at 25% higher than current levels.