U.S. Gas Prices Set a Mid-August Record at $4.06 a Gallon

The national average price of a gallon of gasoline reached $4.06, a record for mid-August, as talks with Iran stalled and shipping through the Strait of Hormuz remained disrupted, Democracy Now reported on August 18. Gasoline prices were up about 25 percent from a year earlier in July, according to the Bureau of Labor Statistics.