Gas Prices Reaches $4.46 Per Gallon Amid Market Concerns

AI Summary

Gas prices increased by over 30 cents per gallon last week, reaching $4.46 per gallon. This marks only the third time in U.S. history that prices have surpassed $4 a gallon. The surge in prices is correlated with shippers avoiding the Strait of Hormuz, which affects oil supply. These developments impact market sentiment and could lead to inflationary pressures across various sectors.