Gas Prices Surge After Brief Dip

(Undated) — Average gasoline prices declined, dipping below the $4 per gallon mark over the weekend. However, that relief may prove fleeting. According to GasBuddy Head of Petroleum Analysis, Patrick De Haan, oil prices surged in Sunday night trading after Iran reclosed the Strait of Hormuz and President Trump signaled further escalation if Tehran does not reach an agreement. De Haan says with global oil flows remaining at risk, renewed volatility is taking hold, and the continued back-and-forth is making any lasting resolution increasingly fragile. As a result, gasoline prices are likely to continue to rise in the days ahead. The current national average is $4 a gallon.