US Edition
Gas prices more than $1 higher than last month, inching closer to $4 average per gallon
National average gasoline price nears $4 per gallon as disruptions to the Strait of Hormuz cut global oil supply; California prices reach $5.79, AAA reports.
- On Monday, the national retail average for a gallon of regular gasoline reached $3.96, according to AAA, as global oil disruptions caused by the closure of the Strait of Hormuz persist.
- The ongoing war with Iran has triggered a blockade of the Strait, pushing crude oil prices above $100 per barrel in recent weeks and driving higher fuel costs.
- Financial strain is felt most acutely in the South, according to ITEP Research Director Carl Davis, with the region on pace to pay $4.2 billion more per month and Alabama residents spending an extra $52.
- The United States announced plans to release more than 170 million barrels of oil from strategic reserves to stabilize markets, while 11 states now report average gas prices exceeding $4 per gallon.
- Seasonal demand from spring break travel continues to put upward pressure on prices, while lawmakers debate gas tax holidays that experts note would cost $2.4 billion monthly in lost revenue.
24 Articles
24 Articles
Despite the American status of number one of the world's oil production, the country is facing a sharp rise in prices caused by its attack on Iran. The last time the crude was so high, Russia was invading Ukraine and inflation was skyrocketedOn Pennsylvania Avenue, the great artery leading to the Capitol, the panel of a BP station announces such high figures that they seem false: 4.39 dollars a gallon. "At the beginning of February it was less t…
abc10 News
These 11 states now average more than $4 per gallon for gas
Gas prices are inching closer to $4 a gallon. Overnight, the average price of regular gas in the U.S. rose to $3.97, according to AAA, more than a dollar higher than when the war in Iran began last month.RELATED STORY | Iran war pushes gas prices higher as Trump urges allies to help protect shipping routesAverage gas prices in Utah and Michigan climbed above $4 Tuesday. There are now 11 states with gas prices average more than $4 per gallon. The…
New from ITEP: Gas Price Surge Costs American Drivers $9.4 Billion a Month; Gas Tax Holidays Won’t Solve This Problem for Working Families
The recent spike in gasoline prices is on pace to cost American drivers an additional $9.4 billion per month, according to a new analysis released today by the Institute on Taxation and Economic Policy (ITEP). Driven by the ongoing Iran war, which has sent prices soaring by about a dollar per gallon in a single month, the financial strain is being felt most acutely in the South. “Pretty much everyone is paying more for gas right now, but the imp…
abc10 Sacramento
Gas prices more than $1 higher than last month, inching closer to $4 average per gallon
Gas prices are going up again. Here's what you need to know about how much it's going to cost to fuel up your car. (AP Photo)
Gas prices near $4 as Trump touts talks with Iran
BALTIMORE, MD—The national average price of gasoline jumped 24.3 cents over the last week to $3.92 per gallon, positioned to hit the $4 mark for the first time in four years, according to data released Monday by GasBuddy. The rapid increase comes as seasonal factors and supply concerns regarding the Strait of Hormuz continue to strain the energy market. The current national average sits nearly a dollar higher than a month ago and 84.1 cents high…
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