Photo: FREDERIC J. BROWN / AFP / Getty Images
The average price of gasoline in the United States surged by four cents on Tuesday (July 25), according to the American Automobile Association's fuel price tracker.
The average cost for a gallon of regular gasoline rose from $3.596 to $3.636. It is the largest daily increase since June 7, 2022, according to CNN.
Patrick De Haan, head of petroleum analysis for GasBuddy, said that gas prices could rise an additional five to ten cents this week.
"If you're a motorist with a tank on "E," you probably would be wise to fill up sooner rather than later. The national average price of gasoline could rise 5-10c/gal this week with increases of 10-25c/gal in some states," De Hann explained.
De Haan told Fox Business that the price of oil has been steadily increasing and has reached the highest levels since April.
"With extreme heat also leading to some refinery outages, and with July gasoline inventories at their lowest level since 2015, we're primed to see the cost increases showing up in force this week across the country," he said.