In brief
The national average price of regular gasoline has reached $4.02, marking a significant increase over the past few months as the ongoing conflict with Iran disrupts global oil supplies. This spike mirrors previous price surges related to the Russia-Ukraine war and is impacting American consumers struggling with rising living costs.
NEW YORK (AP) — For the first time since 2022, U.S. gas prices have eclipsed $4 a gallon, escalating significantly due to the ongoing war with Iran. According to AAA, the national average for a gallon of regular gasoline currently stands at $4.02, which is over a dollar more since the conflict began. This surge is reminiscent of the price spikes seen following Russia’s invasion of Ukraine nearly four years ago. Notably, the $4 figure is an average; many states have been facing even higher prices for some time.Since the initiation of a joint military effort by the U.S. and Israel against Iran on February 28, crude oil prices have seen dramatic fluctuations. The situation has resulted in severe supply chain disruptions and output cuts from notable oil exporters across the Middle East.Consequently, soaring gas prices are producing increased strain on consumers and businesses alike, as households grapple with escalating living costs. Many drivers may now find it necessary to reassess their budgets to accommodate the heightened expense of fueling their vehicles.
