US gas prices reach $4 per gallon for first time since 2022
Average gas prices in the United States surpassed $4 per gallon on Tuesday, the highest level since 2022, according to AAA.
The increase follows the war in the Middle East, which has pushed fuel costs up by about $1 per gallon over the past month, News.Az reports, citing CNN.
Prices are now higher than at any point during President Donald Trump’s two terms.
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The 34.7% rise from $2.98 a gallon a month ago marks the largest monthly increase in U.S. history, exceeding spikes after Hurricane Katrina in 2005 and Russia’s full-scale invasion of Ukraine in 2022. That previous spike eventually pushed prices to a record $5.02 per gallon.
The $4 mark was breached after a week of unusually slow retail price changes, with the national average hovering at $3.98 for six consecutive days before rising to $3.99 on Monday.
Gas prices closely follow global oil markets. U.S. crude oil prices have surged more than 50% in March, with WTI settling above $100 per barrel on Monday for the first time since July 2022, fueled by concerns over further escalation in the Middle East. On Tuesday, WTI was largely unchanged at $102 per barrel.
The ongoing war in Iran has disrupted tanker traffic through the vital Strait of Hormuz, cutting off about 20% of the world’s oil supply. While the U.S., the world’s largest oil producer, imports relatively little crude from the region, global oil prices are affected by the uncertainty and potential supply constraints.
By Nijat Babayev
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