Commodities
US Gas Prices Spike Again Amid Crude Oil Volatility
The national average price of regular gasoline has increased by 16 cents from last week to $4.43, according to AAA's latest report. This marks a significant jump compared to this time last year, when prices were more than one dollar lower at around $3.40 per gallon. Crude oil remains high, averaging $100 per barrel due to ongoing volatility in the Strait of Hormuz.
The current national average is close to reaching its record high of $4.56 set on May 21 this year, with the all-time high standing at $5.01 from June 14, 2022.
It's worth noting that gas prices are back to their spring levels, which may be a concern for drivers and commuters.