Gas prices continue to rise in the United States, creating a growing challenge for small businesses that rely heavily on transportation and fuel costs. The most recent data from AAA Gas Prices reveals that the national average for regular gasoline reached $4.48 per gallon—an almost 5-cent increase from the previous week and a record high for this time of year. Notably, this surge defies seasonal norms, which generally see a decrease in fuel prices as autumn begins.
The recent spike can primarily be attributed to ongoing volatility in the Strait of Hormuz, alongside the robust prices of crude oil. AAA reports that the average price for September is currently $4.30 per gallon, surpassing last year’s record of $3.83. Small business owners might need to brace themselves for further price increases this season, as gasoline demand and production fluctuate.
