Oil Gas And Consumable Fuels News

Mid-August gas shock hits wallets as prices surge to fresh highs

Gasoline prices rose to a mid-August high, with the national regular-gas average at $4.03/gal (AAA), about 16 cents higher than a month ago, and 103 days this year at or above $4.00—the most since 2022. WTI near $82/bbl and Brent near $88, keeping prices volatile amid tensions over the Strait of Hormuz and attacks in the Red Sea. The July gasoline index fell 2.9% from June but remains up about 24.6% year over year; analysts say pump prices could stay elevated into fall, potentially $3.60–$3.90/gal if hurricanes stay away.