US Gas Prices Hit New September High

The national average price of gasoline has reached $4.48 per gallon, a new high for this time of year. According to AAA, this is a 5-cent increase from last week and the highest price ever recorded in September.

Lingering volatility in the Strait of Hormuz and the high cost of crude oil are driving up pump prices. The national average has risen by 39 cents per gallon over the past month and stands at $1.32 higher than a year ago.

In Vermont, gas prices have also increased, with an average price of $4.45 per gallon. Prices in Bennington and Orleans counties are currently the lowest at $4.33 and $4.35 per gallon respectively, while Grand Isle, Franklin, and Chittenden counties are seeing the highest prices at $4.51 per gallon.

GasBuddy's Patrick De Haan notes that 'any broader directional change will depend heavily on overseas developments' and that 'the outlook remains deeply uncertain.' The Energy Information Administration reports that gasoline demand increased last week from 8.79 million barrels per day to 8.84 million, while total domestic gasoline supply decreased from 207.7 million barrels to 206 million.