The national average price for a gallon of regular gasoline jumped 15 cents over the past week to $4.09, AAA reported July 23, with most states now averaging $4 a gallon or higher. Renewed volatility along the Strait of Hormuz and instability in the region have pushed crude oil prices back toward $90 a barrel, AAA said, and could continue driving up pump costs through the second half of summer.
The reversal renews the fuel-cost pressure that had eased through June, while a sustained return above $4 has the potential to weigh on consumer driving during the peak summer travel
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