U.S. average gasoline price rises above $4 a gallon for first time since 2022
The Facts
- The U.S. national average price for a gallon of regular gasoline rose above $4 on Tuesday, to about $4.02.
- This is the first time the U.S. average gasoline price has exceeded $4 a gallon since August 2022.
- AAA data showed the national average gasoline price was about $2.98 a gallon in late February, roughly a month before it crossed $4.
- AAA data indicates the average cost of regular gasoline has risen by roughly 35% since the end of February.
- Multiple reports link the rise in gasoline prices to higher crude oil costs and disruption in global energy markets during the Middle East conflict.
- Gas prices vary significantly by state, with West Coast states such as California and Washington reporting averages well above the national figure.
- National diesel prices have also risen sharply, reaching about $5.45 a gallon.
Context
Why are U.S. gas prices rising now?
Reports say the main driver is higher crude oil prices tied to disruption in global energy markets during the Middle East conflict. Several outlets also point to constrained oil flows and supply concerns as factors pushing fuel costs higher Washington Post,CNBC,NBC News.
How quickly did prices rise?
AAA data cited by multiple outlets shows the national average was about $2.98 in late February and climbed to roughly $4.02 by Tuesday, an increase of about 35% in about a month NYT,Guardian,Business Insider.
Are all drivers paying the same price?
No. The $4 figure is a national average, and prices differ by state because of factors such as taxes and supply conditions. West Coast states including California and Washington are reporting averages well above $5 a gallon, while some other states remain below the national average Guardian,NY Post,WSJ.
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