Oil Prices Spike, National Average Up Nearly 30 Cents in One Week

Washington, DC–After ticking down for nearly two weeks, gas prices are going back up again with the national average seeing a 27-cent hike in one week. The national average is $1.12 higher than it was this time last year, as oil prices surge above $100/barrel with no indication of when the Strait of Hormuz will reopen. Gas prices are the highest they’ve been in four years, since late July 2022. 

The national average per kilowatt hour of electricity at a public EV charging station went up by one cent this past week to 41 cents.

For the complete fuel report, including the latest EIA data, state gas and EV charging price trends, and oil market dynamics, please visit AAA Fuel Site.