(INDIANA) - Gas prices are expected to climb again this week as renewed global tensions push oil prices sharply higher, according to GasBuddy.
The national average for regular gas now stands at $4.07 a gallon, virtually unchanged from last week but up nearly 40 cents from a month ago and more than 93 cents higher than a year ago. Diesel rose another 4 cents to $5.61 a gallon.
GasBuddy analyst Patrick De Haan says a breakdown in ceasefire talks and renewed concerns about shipping through the Strait of Hormuz are likely to trigger another round of price increases for both gasoline and diesel.
Indiana was one of the few states to see prices dip last week, down about 12 cents, but analysts say that relief may be short-lived as crude oil rebounded in Monday trading.
The most common gas price nationally remains $3.99 a gallon, but markets are expected to stay volatile as traders continue reacting to geopolitical developments.
Gasbuddy.com has an updated list of gas prices from local retailers.