US Gasoline Prices Surge

(MENAFN) Gasoline prices in the United States have moved above $4.50 per gallon for the first time since July 2022, as the extended conflict involving Iran continues to restrict fuel supplies and place additional strain on American consumers.

According to the American Automobile Association, the national average retail cost for regular unleaded gasoline increased to $4.54 per gallon on Tuesday. This figure remains about 50 cents lower than the historic peak of $5.01 per gallon recorded in June 2022.

Seasonally, fuel prices are already at their highest recorded level for this time of year, reflecting persistent upward pressure in the energy market.

California continues to experience the most expensive gasoline in the country, with prices surpassing $6 per gallon. Meanwhile, costs have risen sharply across the Midwest, where several states are approaching the $5 mark.

Rising fuel expenses are intensifying inflation worries, dampening consumer confidence, and putting greater pressure on household finances. Prices briefly declined in April after the United States and Iran agreed to pause hostilities, yet they still stayed above $4 per gallon—a threshold first crossed in mid-March.

Overall, gasoline costs have increased by more than $1.50 since the beginning of the conflict, as markets remain alert for potential progress following comments from US President Donald Trump, who stated that “Great Progress” had been made toward resolving the situation.

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