Overview
- Mid-August station-level surveys show the national average rose to about $4.02 per gallon after a weekly increase of roughly 7.7 cents, reversing a brief period of easing.
- Twin Cities drivers saw average prices hit $4.00 with a 16.3-cent weekly jump, while Ohio, Minnesota and Michigan reported larger weekly and year-over-year gains that put many states about $1 higher than a year ago.
- GasBuddy analysts point to the continued closure of the Strait of Hormuz, Ukrainian attacks on Russian refineries and U.S. refinery strikes as the main near-term drivers tightening supply of gasoline and diesel.
- Industry forecasters say the seasonal switch to winter-blend gasoline next month could provide modest relief if crude and refinery pressures ease, but AAA warns ongoing global supply uncertainty could push prices higher again.
- Regional price spreads remain wide at station level, which means drivers in higher-cost states face steeper burdens and policymakers and markets should watch refinery output and Strait of Hormuz developments for clues on future pump prices.