The average U.S. gas price has topped $4 per gallon for the first time since 2022 due to the ongoing Iran conflict, according to multiple reports.
Key Takeaways
U.S. gas prices have surpassed $4 per gallon for the first time since 2022 due to the Iran conflict, with California seeing some stations charge nearly $9 per gallon. The national average stands at $4.02, up from $2.98 before the war began on February 28.
The national average stands at $4.02, a significant increase from $2.98 before the war began on February 28, as reported by AAA and covered by BBC News, The Guardian, HuffPost, and Los Angeles Times. Diesel prices have also surged to an average of $5.45 per gallon, up from $3.76.
The closure of the Strait of Hormuz has disrupted energy production and transportation in the Middle East, driving up crude oil costs. According to AAA data reported by BBC News and HuffPost, this has led to higher fuel prices not just in the US but globally, with countries like Sri Lanka and Bangladesh introducing fuel rationing.
Regional variations are notable, with California's average gas price reaching nearly $5.89 per gallon, while Oklahoma has the lowest at around $3.27 a gallon. On the East Coast, prices are approaching or exceeding $4 in several areas, including $4.16 in Washington, D.C., and $3.93 in New York.
The Los Angeles Times reports that some stations in California are charging nearly $9 per gallon, significantly higher than the state average of $5.72. The conflict has caused deep supply chain disruptions and cuts from major oil producers across the Middle East, impacting consumers and businesses worldwide.
Higher gas prices are exacerbating cost-of-living strains, with 45% of U.S. adults expressing concern about affording gas in the coming months, according to an AP-NORC poll. The International Energy Agency has pledged to release 400 million barrels of oil from emergency stockpiles to alleviate pressure, but analysts warn that relief may take time due to refineries working with previously purchased crude and seasonal demand factors.
The Los Angeles Times adds that the cost of gasoline hit an unwelcome benchmark in the Los Angeles area on Tuesday as the average price per gallon officially reached the $6 mark. The infamously expensive Chevron station on the corner of Alameda Street and East Cesar Chavez Avenue in Chinatown is charging more than $8.70 a gallon. However, there are also several stations where gas still costs around $5 a gallon, according to the GasBuddy app.
In Europe, wartime disruptions in oil supplies have resulted in even more extreme price surges. In Paris, for example, the average price per gallon hit the equivalent of $10.27 this week. White House Press Secretary Karoline Leavitt vowed that “gas prices will plummet back to the multi-year lows American drivers enjoyed before these short-term disruptions” once the U.S.-Israel joint military campaign aimed at crippling Iran’s nuclear and missile programs is complete.
How this summary was created
This summary synthesizes reporting from 6 independent publishers using AI. All sources are cited and linked below. NewsBalance is a news aggregator and media literacy tool, not a news publisher. AI-generated content may contain errors or inaccuracies — always verify important information with the original sources.