Gas Prices Hit $4.23 Gallon as Oil Nears $110 per Barrel

AI Summary

Gasoline prices in the U.S. have reached an average of $4.23 per gallon, marking the highest level since July 2022, with an increase of $0.12 over the past two days. Oil prices also rose, with Brent crude trading near $110 per barrel and West Texas Intermediate approaching $105. Analysts warn that fuel costs may climb further, with predictions of prices potentially hitting the $4.30 range by May. This increase reflects ongoing tensions in the Middle East and substantial U.S. crude exports, which could impact fuel prices and market volatility.