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The national average for a gallon of regular gasoline is the same as it was last week: $4.09. Crude oil prices remain in the $80 per barrel range as instability lingers along the Strait of Hormuz.
Gas prices are nearly a dollar higher than they were this time last year. Typically, August brings some relief at the pump as road trips wind down and fall routines get underway for many families. But elevated crude oil prices could prevent that seasonal shift from starting just yet.
According to new data from the Energy Information Administration (EIA), gasoline demand increased last week from 8.94 million to 9.04 million. Total domestic gasoline supply remained flat at 211.3 million. Gasoline production increased last week, averaging 9.9 million barrels per day.
