Gas prices on track to break record for most days above $4 a gallon: Chart of the Day

0Gasoline prices are on track to break 2022's record for the longest number of days in any year to stay above $4 per gallon.Gasoline prices have eased in recent weeks, but the national average is still on track to break the record for the most days above $4 per gallon in a single year.

The national average for regular gasoline stood at $4.35 a gallon on Monday, about $0.04 less than a month ago, but about $1.27 more than a year ago, according to AAA data.

By Wednesday, prices are expected to set the 2022 record for the total number of days in a year spent above $4 per gallon, according to Patrick De Haan, head of petroleum analysis at GasBuddy.

Even though gasoline prices have come off their peak of north of $4.50 in May, they remain at record highs for this time of year, JPMorgan analysts noted last month.

Meanwhile, the national average for diesel stood at $6.25 per gallon on Monday, about $0.10 less than a month ago. Diesel costs directly affect the prices of goods and services, given how heavily it is relied upon for farming, trucking, and deliveries.

Because refineries produce diesel and heating oil from the same supply, approaching winter demand is expected to keep upward pressure on prices.

Gasoline and heating oil futures, which move in lockstep with diesel, show a year-to-date surge of more than 86% and 124%, respectively, according to AlphaSpace data.

Oil prices rose on Monday in the wake of deadly Middle East attacks and amid growing doubts over a Russia-Ukraine "energy ceasefire" announced by President Trump over the weekend.

Brent crude (BZ=F) rose to $106 per barrel, while West Texas Intermediate crude (CL=F) dropped to $93 a barrel.

Meanwhile, crews were still assessing the aftermath of Hurricane Isaias, which prompted two major refinery shutdowns along the Gulf Coast.

Ines Ferre is a Senior Business Reporter for Yahoo Finance covering the US stock market, publicly traded companies, and commodities.

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