Read the full article on KETV 7
As the war in Iran stretches on, American pocketbooks are continuing to strain under elevated gas and energy prices. On Thursday, the national average price of regular gas hit $4.30 per gallon — the highest it’s been in about four years.A new report from the Bureau of Economic Analysis estimates that American consumers spent about $81.3 billion more on gas and other energy goods in March compared to the month prior, about a 20% increase. The last time gas prices were similarly high was in 2022, when Russia first invaded Ukraine. Gas prices are spiking faster this time around — rising 44% since the initial U.S.-Israeli strikes on Iran on Feb. 28. Over the same time period in 2022, at the beginning of the war, gas prices were up only about 16% in the U.S.Still, the country has yet to reach the record-high $5 per gallon national average that was set in June 2022.Less than 50 counties across the country still have gas prices that remain under $3 per gallon. Conversely, about half of the country is facing prices at the pump that top $4 per gallon for regular gas. Coastal states were the first to feel the Iran War’s impacts on fuel costs. It took longer for the price hikes to reach the middle of the country, but they’re elevated now.Diesel prices have also been impacted. As of Thursday, the average cost for diesel fuel was $5.50 per gallon, according to data from AAA. The Get the Facts Data Team is tracking daily national average gas prices and U.S. crude oil prices. To see the current average gas price in your county or equivalent, search the map below.PHNjcmlwdCB0eXBlPSJ0ZXh0L2phdmFzY3JpcHQiPiFmdW5jdGlvbigpeyJ1c2Ugc3RyaWN0Ijt3aW5kb3cuYWRkRXZlbnRMaXN0ZW5lcigibWVzc2FnZSIsKGZ1bmN0aW9uKGUpe2lmKHZvaWQgMCE9PWUuZGF0YVsiZGF0YXdyYXBwZXItaGVpZ2h0Il0pe3ZhciB0PWRvY3VtZW50LnF1ZXJ5U2VsZWN0b3JBbGwoImlmcmFtZSIpO2Zvcih2YXIgYSBpbiBlLmRhdGFbImRhdGF3cmFwcGVyLWhlaWdodCJdKWZvcih2YXIgcj0wO3I8dC5sZW5ndGg7cisrKXtpZih0W3JdLmNvbnRlbnRXaW5kb3c9PT1lLnNvdXJjZSl0W3JdLnN0eWxlLmhlaWdodD1lLmRhdGFbImRhdGF3cmFwcGVyLWhlaWdodCJdW2FdKyJweCJ9fX0pKX0oKTs8L3NjcmlwdD4=
As the war in Iran stretches on, American pocketbooks are continuing to strain under elevated gas and energy prices.
On Thursday, the national average price of regular gas hit $4.30 per gallon — the highest it’s been in about four years.
Advertisement
A new report from the Bureau of Economic Analysis estimates that American consumers spent about $81.3 billion more on gas and other energy goods in March compared to the month prior, about a 20% increase.
The last time gas prices were similarly high was in 2022, when Russia first invaded Ukraine.
Gas prices are spiking faster this time around — rising 44% since the initial U.S.-Israeli strikes on Iran on Feb. 28. Over the same time period in 2022, at the beginning of the war, gas prices were up only about 16% in the U.S.
Still, the country has yet to reach the record-high $5 per gallon national average that was set in June 2022.
Less than 50 counties across the country still have gas prices that remain under $3 per gallon. Conversely, about half of the country is facing prices at the pump that top $4 per gallon for regular gas.
Coastal states were the first to feel the Iran War’s impacts on fuel costs. It took longer for the price hikes to reach the middle of the country, but they’re elevated now.
Diesel prices have also been impacted. As of Thursday, the average cost for diesel fuel was $5.50 per gallon, according to data from AAA.
The Get the Facts Data Team is tracking daily national average gas prices and U.S. crude oil prices. To see the current average gas price in your county or equivalent, search the map below.
