Gasoline prices climbed on Wednesday, marking their highest level on record for this time of year.
The national average for regular gas stood at $4.03 per gallon, according to AAA data
That’s about $0.16 higher than a month ago. The national average “is now at its highest ever level this late in the calendar year,” GasBuddy head of petroleum research Patrick De Haan noted on X, “meaning the national average has never been above $4/gal after Aug. 12 in any previous year- ever.” Gasoline prices were in their second stretch above $4 per gallon this year, after dipping periodically below that level in June and July. So far this year, the national average for regular unleaded has spent 103 days, or 46% of its time, at or above $4 per gallon.
That marks the highest count of $4-plus gas since 2022, following Russia’s invasion of Ukraine. The rise at the pump comes amid the latest inflation data, released Wednesday, which showed the gasoline index fell 2.9% in July from June, though it was still up 24.6% from a year earlier. Find the best credit cards for buying gas An impasse between the US and Iran over shipments through the Strait of Hormuz has kept oil prices volatile.