Gas prices have never been this high in mid-August

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Gasoline prices climbed connected Wednesday, marking their highest level connected grounds for this clip of year.

The nationalist mean for regular state stood astatine $4.03 per gallon, according to AAA data. That's astir $0.16 higher than a period ago.

The nationalist mean "is present astatine its highest ever level this precocious successful the calendar year," GasBuddy caput of petroleum probe Patrick De Haan noted connected X, "meaning the nationalist mean has ne'er been supra $4/gal aft Aug. 12 successful immoderate erstwhile year- ever."

Gasoline prices were successful their 2nd agelong supra $4 per gallon this year, aft dipping periodically beneath that level successful June and July.

So acold this year, the nationalist mean for regular unleaded has spent 103 days, oregon 46% of its time, astatine oregon supra $4 per gallon. That marks the highest number of $4-plus state since 2022, pursuing Russia's penetration of Ukraine.

The emergence astatine the pump comes amid the latest ostentation data, released Wednesday, which showed the gasoline scale fell 2.9% successful July from June, though it was inactive up 24.6% from a twelvemonth earlier.

83.13 -0.07 (-0.08%)

As of 12:30:00 PM EDT. Market Open.

CL=F BZ=F

Read more: Find the champion recognition cards for buying gas

An impasse betwixt the US and Iran implicit shipments done the Strait of Hormuz has kept lipid prices volatile. Just 14 tracked vessels transited the captious lipid passageway connected Tuesday, according to quality information steadfast Kpler.

West Texas Intermediate (CL=F) and Brent crude (BZ=F) futures remained dependable adjacent $82 and $88 per barrel, respectively, connected Wednesday, aft the US enforced its blockade of the strait by firing connected a Panama-flagged vessel attempting to transverse the Gulf of Oman.

Meanwhile, Houthi attacks connected Saudi Arabian lipid tankers successful the Red Sea country besides raised concerns astir lipid proviso interruptions.

"Regardless, the last 3rd of 2026 volition beryllium considerably much costly than what we've witnessed successful erstwhile years," Tom Kloza, main lipid expert astatine Gulf Oil, told Yahoo Finance.

Kloza noted that gasoline connected the planetary spot markets sells for astir $130 per barrel, good supra the $80-$90 per tube successful the futures market.

The expert predicted that without hurricanes this season, prices astatine the pump could hover betwixt $3.60 and $3.90 gallon by this fall's midterm elections, the highest ever for that clip of year.