Gas Prices Rise to $3.84 as Oil Hits $75 Per Barrel

The national average of gas prices reached $3.84, up 5 cents from the previous day, influenced by oil prices that rose as high as $75 per barrel on Wednesday. However, WTI (West Texas Intermediate) crude oil fell below $72 per barrel on Thursday. Traders on Kalshi estimate a 43% chance that gas prices will exceed $4.60 this year, an increase from previously reported odds of one in three. This market sentiment emerges amidst heightened U.S.-Iran tensions that could affect fuel supply and costs for consumers. The current trend in rising gas prices may impact budgets for everyday drivers and consumers.