Gas prices on track to blow away September record

U.S. gas prices are on track to obliterate a record, a new report found.

Gas averaged $4.48 a gallon on Thursday and $4.30 for September, according to an analysis by motor club AAA.

If this month’s average stays where it is, it will top the most expensive September on record — 2023 — by nearly 50 cents.

Drivers usually see the opposite at the pump around this time of year, but geopolitical unrest and high oil prices are keeping them high, according to AAA.

“Typically, the start of autumn brings lower gas prices, but lingering volatility in the Strait of Hormuz and the high cost of crude oil are driving up pump prices,” AAA said. “This month is on track to set a new September record.”

If September breaks the record, it will mark the second straight month gas prices set a new benchmark. August marked the first time ever that gas prices were above $4 for the entire month, AAA said.

California is the most expensive gas market in the country at $6.23 per gallon, followed by Hawaii ($5.57), Washington ($5.54), Nevada ($5.36) and Oregon ($5.09).

Texas is the cheapest market in the nation — drivers in the Lone Star State are paying $3.95. Indiana is close behind at $3.96, followed by Mississippi ($3.99), Louisiana ($4.03 and South Carolina ($4.04).

Rising prices are plaguing diesel, the fuel often used by heavy-duty and commercial vehicles, too. Diesel hit a record high of $6.53 on Tuesday and was $6.51 as of Thursday - nearly $3 higher than a year ago, according to AAA.

High diesel prices have a trickle-down effect on the economy and consumers’ daily spending, according to gas-price tracking site GasBuddy.

“Diesel can have a much broader impact on inflation and business costs,” GasBuddy said in an early September statement.

“Diesel powers much of the U.S. economy, including freight trucks, trains, agricultural equipment, and construction machinery. As diesel prices rise, transportation costs increase, often leading to higher prices for consumer goods and services.”

President Donald Trump has repeatedly shown indifference to drivers’ frustrations over gas prices, saying expensive fill-ups are a small price to pay for stopping Iran’s nuclear capabilities.

Trump seemed to change course on Wednesday, saying he may ban exports of diesel fuel to lower costs at home.