Commodities
National Gas Prices Surge as Crude Oil Hits $80 Range
The national average price of regular gasoline has risen to $4.07 per gallon after dropping to $4.00 on Monday, according to recent data from the Energy Information Administration (EIA).
This increase is attributed to crude oil prices being in the $80 range amid continued uncertainty along the Strait of Hormuz.
Despite a decrease in gasoline demand last week from 9.03 million barrels per day to 8.96 million, pump prices remain higher than normal for this time of year, making it the highest August on record for the national average.