US EditionUS Gas Prices Surge to Their Highest Since October 2023
U.S. Energy Secretary Chris Wright warns gas prices surged $0.76 per gallon since war began and may remain high due to Iran-driven market uncertainty, GasBuddy reports.
- On air, Wright warned gasoline prices may remain high for weeks during an ABC News' This Week appearance, citing Iran's actions and market uncertainty.
- Market uncertainty stems from Iran's statements signaling it could drive global oil costs past $200 per barrel, injecting supply and price uncertainty into global oil markets.
- GasBuddy reported retail gasoline prices surged at one of the fastest rates in years, with an increase of $0.51 in the past week.
- Officials warned of tighter household budgets as Wright urged American drivers to prepare for belt-tightening, adding prices may fall but 'there's no guarantees in wars at all'.
- Longer‑term production trends include Revolution Wind starting on Friday and EIA reporting U.S. natural gas production grew by 5.3 billion cubic feet per day in 2025.
14 Articles
14 Articles
The average domestic price of gasoline reached $3.72, and in California the cost already exceeds $5 in pumps
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US gas prices surge to their highest since October 2023
By Auzinea Bacon, David Goldman, Hanna Ziady, CNN New York/London (CNN) — Oil and gas prices remained high Monday following attacks on Middle East oil facilities over the weekend – and after the White House suggested the war with Iran could last several more weeks. Gas prices in the United States rose 2 cents to just under $3.72 a gallon on average, according to AAA. That’s the highest price for regular gas since October 7, 2023. Since the start…
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