Gasoline prices at a local station in Arlington, Virginia, surpassed the $4.00 per gallon mark on Wednesday, April 1, reflecting a sharp upward trend in energy costs across the United States.
The national average for regular gasoline reached $4.02 per gallon this week.
The impact is even more pronounced in the diesel market, where the average U.S. price has climbed to $5.45 per gallon, representing a staggering 45% increase compared to just one month ago.
While the current national average for gasoline remains below the record of $5.02 set in June 2022.
The surge is primarily attributed to supply-chain disruptions and production cuts resulting from the ongoing conflict involving the United States, Israel, and Iran.
The Strait of Hormuz, through which roughly 20 million barrels of oil pass daily, has been effectively disrupted since early March, driving up global oil prices and raising fears of prolonged economic damage.
The US and Israel have struck Iran since Feb. 28, killing more than 1,340 people, including then-Supreme Leader Ali Khamenei. Iran has retaliated with strikes across the region, causing casualties and infrastructure damage.
Anadolu Agency
energy@aa.com.tr
