The surge in oil prices amid escalating tensions in the Middle East has caused a spike in gas prices, with GasBuddy analyst Patrick De Haan saying the situation has gas very close to reaching $4/gallon again.
Peak Summer Surge In a post on X on Thursday, De Haan said that the national average price of gas was "pennies from reaching $4/gal" and that the average price of diesel had crossed the $5/gallon threshold.
He also said that oil prices were slightly under $80/bbl when he made the post.
Read Also: Bernie Sanders Slams 'Trump's Lies' About Climate Change, Renews 'Big Oil' Criticism Amid US Heatwaves "Today, at the peak of summer, Americans spent $308 million more on gasoline than a year ago," he said in the post, outlining the sharp increase in prices at the pump compared to last year.
American Automobile Association (AAA) data showed that the national average price of gas on Thursday was $3.9430/gallon, slightly under the $4.0440/gallon average price from a month ago.
