The national average price for a gallon of regular gasoline jumped 27 cents over the past week to $4.30, AAA reported April 30. Pump prices are at their highest level since late July 2022 — $1.12 above the year-ago average and 31 cents higher than a month ago — as crude oil surges back above $100 a barrel.
The increase ends two weeks of price declines triggered by a the U.S.-Iran ceasefire that briefly pulled West Texas Intermediate crude below $100. AAA said there is no indication of when the Strait of Hormuz will reopen.
The renewed run-up compounds
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