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US gasoline crosses $3 per gallon mark in test of Trump's Iran war

National average gasoline prices rose 11 cents overnight to $3.11 amid U.S.-Israel strikes on Iran and refinery shifts to costlier summer fuel blends, AAA reported.

  • This week, Michigan drivers saw their average gas price rise 24 cents, including a 12-cent jump to about $3.24, AAA said.
  • Escalating U.S.-Iran clashes pushed crude prices higher, while the Energy Information Administration's May 1 shift to summer-grade gasoline added seasonal pressure.
  • U.S. crude rose 8.6% to $77.36 per barrel on Tuesday, while Brent oil trades just over $84 amid Iranian threats to tanker movement at the Strait of Hormuz.
  • Michigan drivers now face gas prices slightly above the national average of about $3.20, which is 10 cents higher than Tuesday, contributing to Dow Jones Industrial Average declines.
  • Analysts note that markets often shake off conflicts if oil stays steady, while Adrienne Woodland, spokesperson for AAA-The Auto Club Group, said drivers haven't seen such spikes since March 2022 despite six U.S. service members killed.
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US stocks edge lower after oil prices climb more

U.S. stocks are slipping as oil prices rise further, but the moves are less severe than earlier in the week.

·United States
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Reuters broke the news in United Kingdom on Monday, March 2, 2026.
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