Gas prices increase due to summer blend and oil surpassing $70, impacting consumer spending.

From Yahoo Finance: 2025-04-02 11:46:00

Gasoline prices hit highest level since September as summer blend kicks in and oil prices exceed $70 per barrel. The national average is $3.24 per gallon, up $0.14 from last month but down $0.29 from last year. Refineries switch to more expensive blend for warmer weather and spring break road trips. US gasoline inventories drop to lowest level since December. Recent oil rally pushes prices back into positive territory. Geopolitical moves boost oil prices above $70, including pressure on Iran and tariff threats on Russian crude imports. Analysts warn of potential price increases if oil imports are levied.



Read more at Yahoo Finance: Gas prices rise to highest level since September as oil hovers above $70 per barrel