Gas prices nearing $4 a gallon rekindle fears of inflation rebound

• US gas prices just surged to their highest level since October 2022, fanning fears of a rebound in inflation. 
• The national average for a gallon of gas traded at $3.86 after jumping towards $4 earlier on Monday. 
• “US inflation rate will likely increase again in August,” according to a market expert. 

US gas prices hit a 10-month high Monday, rising toward $4 a gallon, threatening to put upward pressure on inflation. 

The national average for a gallon of gas traded at $3.86 after jumping to $3.96 earlier on Monday, according to AAA.