(Undated) – A new report says gas prices are higher than ever for this time of year. The price-tracking website GasBuddy put out a statement Wednesday saying gas prices in the U.S. have reached their highest level ever for late August. GasBuddy’s head of petroleum analysis said it was the first time ever the national average rose above four dollars a gallon after August 12th. The report follows months of instability in the oil markets as the U.S. war with Iran affects shipments through the Strait of Hormuz.
Around 20 percent of the world’s oil passes through the waterway.
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