US Gas Prices Set to Shatter September Record by Nearly 50 Cents
Gas prices in the US are on track to break the September record by nearly 50 cents, according to AAA. The current average price is $4.48 per gallon, which is higher than the $4.30 average for September last year. This trend marks a departure from the usual decrease in gas prices seen at this time of year.
The analysis by AAA points out that geopolitical unrest and high oil prices are contributing to the surge in pump prices. Typically, the start of autumn brings lower gas prices, but volatility in the Strait of Hormuz and the cost of crude oil are driving them up instead.
California is currently the most expensive gas market in the country at $6.23 per gallon, followed by Hawaii ($5.57) and Washington ($5.54). On the other end of the spectrum, Texas has the cheapest gas prices at $3.95 per gallon, with Indiana close behind at $3.96.
The impact of high diesel prices is also being felt, with a record high of $6.53 on Tuesday and $6.51 as of Thursday. This can have a ripple effect on the economy and consumers' daily spending, according to GasBuddy.