According to the latest data from AAA, the national average price for regular gasoline in the U.S. has climbed to $4.018 per gallon, officially crossing the $4 threshold. Prices at the pump have risen 35% since the war in Iran began last month.
With the Strait of Hormuz remaining closed to most vessels, the global oil supply
The chain has suffered a severe disruption. TheStraitt handles approximately 20% of the world’s oil supply, and the current situation offers little hope for near-term price relief.
Data shows that crude oil prices have surged above $100 per barrel over the past month, a spike that has now been passed directly to consumers. A month ago, regular gas averaged $2.98 per gallon; one year ago, it was $3.17.
Breaking down by fuel type, the national average currently stands at $4.541 for mid-grade gas, $4.904 for premium, and $5.454 for diesel. Regional disparities are significant: West Coast prices remain notably high, with California seeing regular gas at $5.887 per gallon, while Oklahoma has the cheapest gas in the nation at an average of $3.272 per gallon.
Looking back, the last time average gas prices reached the $4 level was in 2022 following the outbreak of the Russia-Ukraine conflict. Current prices remain below the all-time high of $5.03 per gallon recorded in June 2022.
Public opinion shows a clear divide over who bears responsibility for the price surge. A Morning Consult poll conducted earlier this month found that 48% of Americans blame President Trump and his administration for the spike, while 16% point to oil and gas companies, 13% cite global market forces, and 11% attribute it to former President Biden.
Additionally, a Reuters/Ipsos poll indicates that 87% of respondents expect gas prices to continue rising as the war drags on, and 55% said that rising pump costs have “somewhat” impacted their overall household budget.