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US gasoline prices hit highest level in 4 years
AAA said the national average reached $4.18 a gallon, with Midwest refinery outages and stalled Iran talks keeping prices elevated.
- On Tuesday, the American Automobile Association reported national gasoline prices reached $4.18 per gallon, their highest level in nearly four years, up 11 cents this month and $1.19 since late February.
- Crude oil prices climbed sharply last week, with Brent futures gaining about 16%, as supply concerns intensified amid stalled peace talks over the Strait of Hormuz involving Iran and Israel.
- Refinery maintenance intensified supply constraints as Phillips 66's Wood River refinery in Illinois and Marathon Petroleum's Robinson refinery began planned work, while BP's Whiting, Indiana, facility experienced a power outage.
- GasBuddy analyst Patrick De Haan warned ongoing Great Lakes refinery issues will keep prices elevated for Midwest motorists, potentially curbing discretionary spending as household budgets face immediate pressure.
- Gasoline prices haven't reached this level since April 2022, shortly after Russia invaded Ukraine, as analysts monitor geopolitical volatility and BP reported profits exceeding $3 billion on Tuesday.
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US Gas Prices Hit Highest Level in 4 Years, Analyst Says
The average price for a gallon of gasoline hit its highest level in four years on Tuesday as the cost of a barrel of oil remains elevated amid the conflict with Iran, according to a prominent analyst. The national average price for a gallon of gas was $4.17, “the highest level since 2022,” and surpassed the $4.16 price reported earlier this month, said GasBuddy analyst Patrick de Haan in an X post on April 28. “We’ll continue to head higher for …
·New York, United States
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Average U.S. gas prices reach highest point since Iran war began
Gas prices in the U.S. have reached their highest levels since the start of the Iran war, increasing pressure on President Trump as his military operation turns into a contest of economic willpower with Tehran.
·United States
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Total News Sources31
Leaning Left7Leaning Right2Center15Last UpdatedBias Distribution63% Center
Bias Distribution
- 63% of the sources are Center
63% Center
L 29%
C 63%
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