US Gas Prices Soar Past $4 Per Gallon Amid Global Supply Concerns

Gas prices in Ohio continue to rise as summer comes to an end. According to recent data, consumers are paying more than a dollar per gallon more than they were at this time last year.

The national average gas price has also surpassed $4 per gallon, topping the previous year's average by over a dollar.

Patrick De Haan, head of petroleum analysis at GasBuddy, attributes the increase in prices to rising oil costs driven by the closure of the Strait of Hormuz and ongoing Ukrainian attacks on Russian oil refineries. He notes that while the transition to cheaper winter-blend gasoline may bring some relief, these challenges are unlikely to resolve soon.

Ohio's average gas price has reached $4.18 per gallon, exceeding the national average of $4.07 by over a dime. The state saw one of the largest weekly increases in the country, with prices rising 32.8 cents per gallon.