Gas prices are the highest they’ve been in about 10 months, with the national average for regular gasoline hitting $3.87 a gallon on Wednesday, according to AAA.

This is reportedly “the highest level since Oct. 19 and comes just weeks ahead of Labor Day weekend when millions of Americans will hit the roads.”

What are gas prices nationally right now?

Currently, the reported national average for the price of gas is $3.873.

For specific grades, the reported average price nationally for gas is:

  • Premium: $4.620, while on Tuesday it was $4.606.
  • Regular: $3.873, while on Tuesday it was $3.862.
  • Mid-Grade: $4.286, while on Tuesday it was $4.272.
  • Diesel: $4.338, while on Tuesday it was $4.327.

AAA further reported that the highest recorded average prices for gas up to date are:

  • Regular unleaded: $5.016 on June 14.
  • Diesel: $5.816 on June 19.
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What are Utah gas prices right now?

AAA reported that the current Utah average gas price is $4.221.

For specific grades, the average price in Utah reportedly is:

  • Premium: $4.644, while on Tuesday it was $4.600.
  • Regular: $4.221, while on Tuesday it was $4.162.
  • Mid-grade: $4.437, while on Tuesday it was $4.396.
  • Diesel: $4.468, while on Tuesday it was $4.428.
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What is causing gas prices to rise?

The Hill reported that some factors in why gas prices have risen may be “oil supply cuts abroad and issues at refineries that turn crude oil into gasoline.”

“If not for the OPEC cuts, I think we’d be paying somewhere between $3.25 to $3.50 for gas,” Tom Kloza, global head of energy analysis at the Oil Price Information Service, said.

Kloza continued, “They took extraordinary measures and I think those measures are having an impact.”

The Wall Street Journal reported that experts believe lower gas prices won’t come until “next year.”

According to the U.S. Energy Information Administration, gasoline and diesel costs are expected to make a downward trend at the end of 2023 and into 2024.

“A large share of retail gas prices is crude oil price per barrel,” Stuart Katz, chief investment officer at wealth manager Robertson Stephens, said. “When per-barrel prices go up, gas prices go up. It’s a direct increase.”