cost-of-living

Gasoline Prices Jump as WTI Near $97 and Hormuz Premium Hits the Pump

Published September 16, 20265 min read

U.S. national average regular gasoline price, last 90 days — U.S. regular gasoline retail price, Sept 2025 - Sept 2026 (USD per gallon). Source: AAA. — Illustration: MarketIntelLabs

The national average for regular gasoline reached $4.329 per gallon on September 15, 2026, up 13 cents from the previous week and $1.15 from a year ago, according to AAA data. That increase reflects the pass-through of higher crude oil costs as West Texas Intermediate traded near $97 per barrel, well above the Energy Information Administration forecast of $85 in its September Short-Term Energy Outlook. The gap between spot prices and those forecasts represents the geopolitical risk premium tied to the Strait of Hormuz, which the EIA's September 2026 Short-Term Energy Outlook reports as effectively closed since March. This premium is now showing up at pumps across the country, hitting househo…

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