US Gas Prices Near $4 Average

Gas is getting pricier fast, and the country is now within striking distance of a $4 national average. AAA put the cost of a gallon of regular at $3.88 on Thursday, up nearly a dollar in about a month and at its highest level since 2022, reports Newsweek. GasBuddy analyst Patrick De Haan now sees a roughly 90% chance the US average will hit $4 by month's end. The jump comes amid the Iran war, a constricted Strait of Hormuz, and crude prices topping $100 a barrel—on top of the usual spring travel bump. The surge complicates President Trump's promise to bring down living costs, including at the pump, and could weigh on Republicans in this year's midterms. As Axios notes, "For many Americans, the most visible barometer of how the Iran war is going may be the price at the gas station down the street."

Vice President JD Vance on Tuesday called the spike "a temporary blip," while Trump earlier this month said, "If they rise, they rise. I don't have any concerns about it. They'll drop very rapidly when this is over." Every state has seen an increase; California now averages $5.62. The administration has tried to blunt the shock with a planned release of 172 million barrels from US strategic reserves and a 60-day waiver of the Jones Act to ease shipping. Officials insist the spike is temporary, but analysts say relief likely hinges on restoring normal traffic through the Strait of Hormuz. (President Trump on Wednesday threatened to "blow up the entirety" of a major Iranian gas field over an attack on Qatari infrastructure.)