Gas Prices Hit Record High in August | Business and Finance News

Gas prices are hitting record highs for August, with the national average never seen this high after the 12th — and we’ve spent over 100 days at or above $4 a gallon, the most since 2022. Despite a slight drop in July inflation, prices remain far above last year’s levels, fueled by global tensions, especially between the U.S. and Iran over the Strait of Hormuz, which is rattling oil markets. Consumers are feeling the pinch daily, as supply chain issues and geopolitical instability keep prices volatile. Analysts predict prices will stay elevated through the fall elections, potentially setting new seasonal records — even without major hurricanes. Buckle up, folks: it’s going to be a pricey ride to the pump for the foreseeable future. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/4e343c56417585af