Commodities
US Gas Prices Climb Above $4.20 Amid Crude Oil Volatility
The national average for regular gasoline has risen to $4.27 per gallon, a 13-cent increase from last week's price of $4.14.
This rise in prices comes as crude oil costs have increased due to volatility in the Strait of Hormuz, pushing it back into the $100 per barrel range for the first time since July.
The Energy Information Administration (EIA) reports that gasoline demand decreased last week from 8.92 million barrels per day to 8.55 million, while total domestic gasoline supply increased from 205.7 million to 206.9 million barrels.