Gas prices in the United States reached a record high of $4.15 per gallon during the Labor Day weekend, surpassing the previous record set in 2012, according to data from Kalshi confirmed by the American Automobile Association. Diesel prices also hit record highs, reflecting the broader increase in transportation costs. This situation comes amid geopolitical tensions and supply constraints in the oil market. The market anticipates a 10.5% probability that crude oil will reach a new all-time high by year-end.
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