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13 clusters · 86 sources · 39 days · First seen · Last updated

US gasoline prices approach record August highs

Overview

United States gasoline prices have experienced volatility linked to geopolitical tensions and crude oil market shifts. In mid-August, national prices trended upward to an average of approximately $4.07 per gallon, driven by crude oil returning to the $80-per-barrel range due to uncertainty in the Strait of Hormuz. By the end of August, the national average for regular gasoline reached approximately $4.08 per gallon, marking the first time on record that the average remained above $4 per gallon every day throughout the month.

By early September, the national average for a gallon of regular gasoline rose to $4.14, according to AAA. During the Labor Day weekend, this surpassed the previous holiday record of $3.82 set in 2012, with prices averaging approximately $4.15 per gallon. By September 9, the national average rose another six cents over the preceding week to $4.15. This upward pressure is attributed to volatility in the Strait of Hormuz, which pushed West Texas Intermediate to settle at $91.01 per barrel.

Regional trends have diverged; while Western Pennsylvania saw prices decrease to $4.306 per gallon, some stations in Delaware County reported prices exceeding $4.50 per gallon. Supply factors include U.S. crude oil inventories decreasing by 4.5 million barrels in a single week, leaving them 1% above the five-year average. Diesel prices also reached a new national record of $5.90 per gallon. In August, the Producer Price Index (PPI) rose 5.4% year-over-year, up from 4.7% in July, primarily driven by energy costs rising 4.2%. Diesel fuel prices saw a significant jump of 24.1%, with the national average reaching $5.98 per gallon. Following the Labor Day holiday, Texas gasoline prices defied seasonal trends of declining costs, with the state average rising 14 cents to $3.83 per gallon. Regional disparities in Texas included El Paso at $4.22 and Houston at $3.69.

Entities

AAA · GasBuddy · United States · Energy Information Administration · Strait of Hormuz

Claims

What the coverage asserts, and how many sources carry each claim.

Coverage disagrees

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Timeline

  1. about 4 hours ago

    [BUSINESS] 2 sources
    Texas gas prices rise following Labor Day holiday

    Texas gasoline prices rose to an average of $3.83 per gallon this week, driven by oil market volatility despite the post-Labor Day season.

  2. 2 days ago

    [BUSINESS] 2 sources
    U.S. gas prices fluctuate amid rising crude oil costs

    U.S. gas prices are fluctuating, with Western Pennsylvania seeing slight decreases while Delaware County prices exceed $4.50. National averages rose to $4.15 amid high crude oil costs.

  3. 7 days ago

    [BUSINESS] 23 sources
    US fuel prices hit record highs during Labor Day weekend

    U.S. gasoline and diesel prices hit record highs for Labor Day weekend, driven by crude oil volatility and geopolitical tensions in the Middle East and Russia.

  4. 9 days ago

    [BUSINESS] 2 sources
    New York gas prices hit record late-summer highs

    New York gas prices have reached record late-summer highs, with the statewide average at $4.24 per gallon due to declining domestic supplies, increased travel demand, and global oil disruptions.

  5. 9 days ago

    [BUSINESS] 4 sources
    United States gasoline prices show significant regional variation

    U.S. gasoline prices show significant regional disparity, with California leading at $5.78 per gallon while Indiana remains among the lowest. Southern California is seeing consecutive daily increases.

  6. 12 days ago

    [BUSINESS] 37 sources
    U.S. gasoline prices hit record August highs amid refinery exemptions

    U.S. gasoline prices averaged over $4 per gallon throughout August for the first time on record, driven by high crude costs and Middle East tensions. The EPA is implementing refinery exemptions and fuel waivers

  7. 15 days ago

    [BUSINESS] 4 sources
    U.S. gasoline prices approach record August highs

    U.S. gasoline prices are nearing record August highs, with the national average staying above $4 per gallon every day this month. Crude oil remains volatile near $80 per barrel.

  8. 18 days ago

    [BUSINESS] 2 sources
    U.S. gas prices show regional divergence in Idaho and Indiana

    U.S. gas prices show regional divergence as Idaho sees prices rise to $4.49 per gallon due to high crude costs, while Indiana averages drop to $3.50 amid a broader national upward trend.

  9. 22 days ago

    [BUSINESS] 11 sources
    U.S. gasoline prices hit record August high amid rising crude costs

    U.S. gasoline prices have hit a record high for August, averaging $4.10 per gallon as crude oil costs rise amid instability in the Strait of Hormuz.

  10. 26 days ago

    [BUSINESS] 5 sources
    Gasoline prices in Florida and Indiana show regional variations

    AAA reports recent fuel price trends in Florida and Indiana, where gas averaged $3.87 and $3.59 per gallon respectively, amid fluctuating crude oil costs and national averages.

  11. 28 days ago

    [BUSINESS] 2 sources
    U.S. gasoline prices rise amid elevated crude oil costs

    U.S. national gasoline prices have risen to an average of $4.07 per gallon due to elevated crude oil costs, despite recent localized price drops in parts of Southern California.

  12. about 1 month ago

    [BUSINESS] 2 sources
    Gasoline prices decrease nationally as crude oil costs ease

    U.S. gasoline prices have fallen to a national average of $4.06 per gallon, driven by easing crude oil costs. Indiana averages $3.49 per gallon, significantly below the national mark.

  13. about 1 month ago

    [BUSINESS] 3 sources
    Illinois and New York Gasoline Prices Shift in Early August

    Illinois gasoline prices rose to $4.32/gal, up 9.3 cents weekly, while New York prices fell to $4.19/gal. National average slipped to $4.05/gal amid global oil market volatility.

Sources

1390granitecitysports.com · 1470kyyw.com · 6abc.com · abc17news.com · abc7chicago.com · ahz.ch · aijourn.com · almanar.com.lb · almanartv.com.lb · automotiveaddicts.com · biobased-diesel.com · biz.heraldcorp.com · boereport.com · bourse24.ir · ca.sports.yahoo.com · cobbcountycourier.com · cryptobriefing.com · cubaenmiami.com · dailyagricnews.com · dccc.org · democrats.org · dis-blog.thalesgroup.com · e24.no · elbalad.news · empirecenter.org · empower.com · espnlouisville.com · europesays.com · explorejeffersonpa.com · fingerlakes1.com · fox29.com · fox9.com · fuelgaugereport.com · gilmermirror.com · heraldnet.com · ilialive.gr · index.hu · it-boltwise.de · jalopnik.com · jbassettlaw.com · jnilbo.com · julian-hoffman.com · kesq.com · kvia.com · kvom.com · kxrb.com · kyma.com · levittownnow.com

This summary has been updated 29 times: see revision history