The national average price of gasoline edged lower Wednesday, even as two states reached all-time highs for diesel prices.
GasBuddy's live tracker Wednesday showed the U.S. average at $3.977 per gallon as of 3:25 p.m. Eastern time, down 1.4 cents from the previous day, though still up 8 cents from a week ago.
GasBuddy analyst Patrick De Haan said California and Washington state reached record diesel prices as global oil markets react to disruptions tied to the U.S.-Israeli war with Iran.
"California and Washington have both now set new all-time records for average diesel price," De Haan, GasBuddy's head of petroleum analysis, wrote in a social media post.
Data shows diesel prices in California rose above $7 per gallon, while Washington exceeded $6 per gallon, both record highs.
De Haan said the increases come as tanker traffic through the Strait of Hormuz has been disrupted, tightening global supply and driving up costs.
Fuel prices have risen sharply in recent weeks, with the national average for gasoline nearing $4 per gallon after being below $3 a month earlier, according to AAA data.
Diesel prices have followed a similar trend, climbing as transportation and supply chain pressures increase.
GasBuddy figures released Monday showed the national average price of gasoline rose 24.3 cents in the past week to $3.92 per gallon.
That is up 98.9 cents from a month ago and 84.1 cents higher than a year ago.
The national average price of diesel rose 27 cents over the same period to $5.227 per gallon.
"Gas prices continued to rise nationwide over the last week as seasonal factors, combined with ongoing supply concerns tied to the continued disruption in the Strait of Hormuz, pushed both gasoline and diesel prices sharply higher," De Haan said in the release.
"It now appears increasingly likely that the national average price of gasoline will reach the $4-per-gallon mark — potentially as early as this week — for the first time since 2022, while diesel prices are surging to multi-year highs, with some markets nearing record territory.
"There are few signs of stabilization so far, as global oil prices continue to climb and early indications suggest consumers may begin to pull back in response to the rapid pace of increases."
Jim Mishler ✉
Jim Mishler, a seasoned reporter, anchor and news director, has decades of experience covering crime, politics and environmental issues.
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