US Drivers Hit with Record Gas Prices Amid Ongoing Global Tensions

U.S. drivers are experiencing high gas prices as crude oil costs remain above $80 per barrel.

Average retail gasoline prices reached a record high of $4.10 per gallon on August 21, according to AAA.

The federal government is looking for ways to improve refinery throughput and keep a lid on retail gasoline prices.

However, crude oil prices are driven by global issues, including the ongoing conflict in the Middle East, which has limited global trade through the Strait of Hormuz.