The national average price for a gallon of regular gasoline in the United States climbed to $3.60 Thursday, according to AAA data, as geopolitical tensions in the Middle East continue to disrupt global oil supplies.
The latest increase caps several weeks of steady gains at the pump. Analysts say the national average has risen sharply since late February, with prices climbing more than 20% in roughly a month as crude oil markets react to the conflict and supply disruptions, The Washington Post reports.
Energy markets have been particularly sensitive to disruptions involving the Strait of Hormuz, a key shipping lane through which roughly 20% of the world’s oil supply normally flows.
Shipping delays and damage to regional energy infrastructure have tightened global supply, pushing crude prices above $100 per barrel at times and fueling higher gasoline costs in the United States.
Higher crude prices typically translate into higher costs for refiners and distributors, which are then passed on to consumers at the pump.
The surge has pushed gasoline prices above $3 per gallon in all 50 states, the first time that has occurred since 2023, according to AAA tracking data.
The price increases have been even more pronounced in some regions. California, for example, has seen average prices climb above $5 per gallon, with analysts warning they could rise further if global supply disruptions persist.
Federal officials and international energy agencies are attempting to stabilize markets.
The United States has signaled plans to release oil from the Strategic Petroleum Reserve, part of a broader global effort coordinated by the International Energy Agency to increase supply and ease pressure on fuel prices.
Economists say the trajectory of gasoline prices will depend largely on how long the conflict lasts and whether global oil shipments can return to normal levels in the coming weeks.
If disruptions continue, analysts warn that Americans could face further increases at the pump heading into the spring travel season.
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