The average retail price of gasoline across the United States has reached $4.52 per gallon, marking the first time it has surpassed this figure since July 2022. This price increase, particularly noticeable ahead of the weekend holidays and peak summer travel, is driven by ongoing political and military tensions in the Middle East and concerns over oil supply disruptions from the Strait of Hormuz.
Reasons for Rising Gas Prices
According to analysts, the ongoing tensions in the Middle East, especially the war between the U.S. and Israel against Iran, have caused significant disruptions in global oil supply. This situation, coupled with rising prices of crude oil futures, has severely impacted gasoline prices in various states across America. Analysts believe that without a reduction in tensions, fuel prices in the U.S. could surpass previous records.
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Price Situation in Different States
According to data from the data analysis company "GasBuddy", California has the highest gasoline price among U.S. states, with an average of $6.14 per gallon. Gas prices in this state have significantly exceeded the national average, adding to the political challenges faced by Donald Trump, the President of the United States, and the Republican Party ahead of the November elections.
Prices in other states are also affected by rising global crude oil prices. The global Brent crude oil index has increased by 58% since the onset of the war in the Middle East, directly impacting the oil market and consequently gasoline prices. The average gasoline price in the U.S. reached $4.52 per gallon by 5:20 PM Eastern Time on Tuesday, reflecting a significant increase from the $4 level at the end of March.
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