Gas Hits $4.48 as Oil Nears 4-Year High

The surge in oil prices is already filtering through to consumers, with the U.S. national average for gasoline climbing to $4.48 per gallon, according to AAA data for May 5.

Tuesday’s AAA national gas average is the highest level since the Iran war began.

As of 8:32 a.m. EST, oil prices remained elevated and volatile, with Brent crude around $113 per barrel and U.S. WTI near $104–$105.