In case you have missed it amid the market meltdown, soaring inflation, and geopolitical tensions, gasoline prices are back on the rise.
According to the American Automobile Association (AAA), the national average for a gallon of gasoline has risen for the sixth straight day, hitting $3.725. This is up from $3.677 a week ago.
The reason? Refinery issues, hurricane season, and potential output disruption.
But the recent increase in gas prices has been offset by lackluster demand and falling oil prices, driven by growing U.S. and global recession fears.
Also, here is some additional AAA data:
The nation’s top 10 largest weekly increases: Oregon (+36 cents), Wisconsin (+35 cents), California (+35 cents), Washington (+29 cents), Nevada (+19 cents), Ohio (+17 cents), Michigan (+17 cents), Alaska (+16 cents), Indiana (+16 cents) and Iowa (+16 cents).
The nation’s top 10 most expensive markets: California ($5.79), Hawaii ($5.23), Nevada ($5.10), Oregon ($5.00), Washington ($4.92), Alaska ($4.80), Idaho ($4.41), Utah ($4.20), Arizona ($4.10) and Illinois ($3.97).
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