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Benzinga
  • 3 hours ago
U.S. gas prices hit $4.39/gallon Friday — up 33 cents in one week and $1.41 over nine weeks, the fastest such increase since the early 1990s. Americans are spending ~$125M more daily on fuel than the prior week as inventories decline and the Strait of Hormuz remains closed ahead of peak summer driving season.

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00:00It's Benzinga, bringing Wall Street to Main Street.
00:02U.S. gasoline prices jumped to $4.39 per gallon on Friday, up 33 cents from a week earlier,
00:10according to The Wall Street Journal. The increase marks one of the sharpest weekly
00:14increases in recent years following the Iran War and earlier geopolitical disruptions.
00:20Americans consume about 375 million gallons daily, adding roughly $125 million in extra
00:28daily spending compared to the prior week. Gas prices rose $1.41 over nine weeks,
00:36marking the fastest increase for that period since at least the early 1990s.
00:41Data shows U.S. gasoline inventories are declining as global supply risks persist,
00:46with the Strait of Hormuz unlikely to reopen soon and summer driving demand approaching.
00:51For all things money, visit Benzinga.com.
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