US national average gas price rises $0.25 in a week once again to hit $4.55
Drivers have been seeing another increase at the pump, as the national average for a gallon of regular gas rose 25 cents for a second consecutive week.
Gas prices are currently $4.55 per gallon, which is $1.40 higher than it was about a year ago, according to the American Automobile Association. Gas prices have reached their highest level since 2022 when the national average peaked at $5.01 per gallon.
While crude oil prices dropped below $100 per barrel during ongoing negotiations to reopen the Strait of Hormuz, gas prices continue to face growing pressure from global supply concerns.
(Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.)
Prediction markets show traders pricing in a 64% chance that gas could continue to rise about $4.50 in May, while 21% are betting it could rise to about $5.00 this month.
Gas Buddy’s Patrick De Haan recently told Sherwood that gas could potentially hit $5 by Memorial Day.
While crude oil prices dropped below $100 per barrel during ongoing negotiations to reopen the Strait of Hormuz, gas prices continue to face growing pressure from global supply concerns.
(Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.)
Prediction markets show traders pricing in a 64% chance that gas could continue to rise about $4.50 in May, while 21% are betting it could rise to about $5.00 this month.
Gas Buddy’s Patrick De Haan recently told Sherwood that gas could potentially hit $5 by Memorial Day.
