US Gasoline Prices Surpass $4.50 Per Gallon, Reaching New Highs
According to the International Desk of Webangah News Agency, data from analytics firm GasBuddy revealed that the average retail price of gasoline across the United States surpassed $4.50 per gallon on Tuesday, marking the highest point since July 2022.
The energy sector website EnergyNav reported that the ongoing conflict involving the United States and Israel against Iran continues to disrupt a significant portion of global oil supply transiting through the Strait of Hormuz.
EnergyNav further noted that the sharp increase in gasoline prices at the pump, coinciding with the approaching holiday weekend and peak summer travel, presents a challenge to the political standing of U.S. President Donald Trump and the Republican Party ahead of the November elections.
Analysts suggest that without a de-escalation of tensions in the Middle East, fuel prices in the United States could surpass previous records.
According to GasBuddy data, the average price of gasoline nationwide stood at $4.52 per gallon as of 5:20 PM Eastern Time on Tuesday. Prices had crossed the $4 mark in late March, a level last seen in August 2022 following Russia’s invasion of Ukraine.
GasBuddy data indicates that California has the highest average gasoline price among U.S. states, currently at $6.14 per gallon.
Gasoline prices have surged concurrently with rising crude oil futures contracts, fueled by concerns over continued disruptions to oil supply in the Persian Gulf. The global Brent crude oil benchmark has seen a 58 percent increase since the conflict began.
