The national average price for a gallon of regular gasoline moved above $4 on July 20, according to AAA’s daily fuel-price tracker. The organization listed the average at $4.003, compared with $3.872 one week earlier and $3.141 a year earlier.
AAA said on July 16 that instability around the Strait of Hormuz was contributing to higher pump prices by lifting crude-oil costs. Since then, renewed U.S.–Iran fighting has pushed Brent crude above $90 a barrel, adding pressure to fuel markets.
The U.S. Energy Information Administration’s most recent weekly survey, released July 14, put regular gasoline at $3.855 for the week ending July 13, up 7.8 cents from the prior week. Its next national update is scheduled for July 21.
AAA’s daily estimate and the EIA’s weekly survey use different collection schedules and methods, so their figures are not directly interchangeable. Together, however, they show that the earlier summer decline in gasoline prices has reversed, with the increase now reaching household budgets across the country.
Source: AAA — https://gasprices.aaa.com/ Source: U.S. Energy Information Administration — https://www.eia.gov/petroleum/gasdiesel/
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