National Gas Prices Reach New Autumn High Amid Volatility

The national average price of regular gasoline has reached $4.48 per gallon, surpassing previous highs for this time of year. Typically, autumn brings lower gas prices, but market volatility and high crude oil costs are driving up pump prices.

This month is on track to set a new September record, with an average price of $4.30 per gallon so far. The Energy Information Administration (EIA) reports that gasoline demand increased last week, while total domestic supply decreased slightly.

According to the EIA, US crude oil inventories rose 3 million barrels to 426.4 million barrels, surpassing the five-year average by 2%.