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These charts show the rise to $4 gas in the US and how it compares over time
Experts say the surge at the pump may also be behind *** recent surge in electric vehicle searches online. And if you’re in the market to buy, there are several costs to consider. Soaring gas prices amid the war in Iran may be pushing some drivers to search for alternatives. Car shopping website Edmunds found that online interest for electric vehicles grew around the same time the US launched missiles on Iran, and it’s happened before. In 2022, experts saw *** similar trend with Russia’s invasion of Ukraine, but experts say whether the recent spike translates to EV sales will depend on how long prices stay elevated. We have *** kind of *** short attention span, so even *** couple of months or 3 months is considered *** long time. Experts also say it could take months for that interest. To turn into real sales. Usually what we see is that people will research that and it has *** bit of *** lag time for actual sales. Potential buyers may face some immediate roadblocks. Our Get the Facts data team found that while EV sales have generally grown, they fell dramatically at the end of last year in part because of *** $7500 federal tax. Tax credit to buy the cars expiring and *** rollback of fuel economy standards. Insurance is another consideration. EVs, experts say, tend to have higher premiums than your standard gas car, but other long-term maintenance and recharging costs favor going electric. They tend to brake less frequency, less frequently. Um, and EVs also don’t require oil changes, which is *** nice, um, *** nice place for savings. And finally, the upfront cost is also shifting. Our data team finding the cost gap narrowing. The cheapest retail price for EVs rose about 20% since 2013 compared to gas cars rising 71%. Personal lifestyle and whether you’ll use the car for work. Or road trips can all determine what’s best for you. You have to really look at the, you know, sort of like the full package of what you’re signing up to, not necessarily just one cost versus the other. If you’re considering buying an EV, consider buying used. One expert tells me that thousands may be coming off their 2 to 3 year leases, and that could bring those upfront costs for the EVs down even further. Reporting in Washington, I’m Amy Lou.
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These charts show the rise to $4 gas in the US and how it compares over time
U.S. gas prices reached an average price of $4.02 per gallon Tuesday amid the war in Iran, according to AAA. It marks the first time gasoline prices have reached above $4 a gallon since 2022, when prices rose following Russia’s attack on Ukraine. Since the Feb. 28 U.S.-Israeli attacks on Iran, gas prices have increased roughly 35%. Both gas and diesel costs have surged in recent weeks, with the average cost of a gallon of diesel increasing about 45% from a month ago. As of Tuesday morning, diesel is running up to $5.45 a gallon for consumers.U.S. and Brent oil prices have also spiked due to the conflict with Iran, rising about 54% and 48% as of Tuesday morning.Following the U.S.-Israeli attack, Iran closed the Strait of Hormuz. About one-fifth of the world’s oil trade passes through this narrow passage of water. The blockage has caused trade disruption, contributing to the spike in oil prices. Use the Get the Facts Data Team’s gas price tracker to see how much it will cost to fill your tank. PHNjcmlwdCB0eXBlPSJ0ZXh0L2phdmFzY3JpcHQiPiFmdW5jdGlvbigpeyJ1c2Ugc3RyaWN0Ijt3aW5kb3cuYWRkRXZlbnRMaXN0ZW5lcigibWVzc2FnZSIsKGZ1bmN0aW9uKGUpe2lmKHZvaWQgMCE9PWUuZGF0YVsiZGF0YXdyYXBwZXItaGVpZ2h0Il0pe3ZhciB0PWRvY3VtZW50LnF1ZXJ5U2VsZWN0b3JBbGwoImlmcmFtZSIpO2Zvcih2YXIgYSBpbiBlLmRhdGFbImRhdGF3cmFwcGVyLWhlaWdodCJdKWZvcih2YXIgcj0wO3I8dC5sZW5ndGg7cisrKXtpZih0W3JdLmNvbnRlbnRXaW5kb3c9PT1lLnNvdXJjZSl0W3JdLnN0eWxlLmhlaWdodD1lLmRhdGFbImRhdGF3cmFwcGVyLWhlaWdodCJdW2FdKyJweCJ9fX0pKX0oKTs8L3NjcmlwdD4=
U.S. gas prices reached an average price of $4.02 per gallon Tuesday amid the war in Iran, according to AAA.
It marks the first time gasoline prices have reached above $4 a gallon since 2022, when prices rose following Russia’s attack on Ukraine.
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Since the Feb. 28 U.S.-Israeli attacks on Iran, gas prices have increased roughly 35%.
Both gas and diesel costs have surged in recent weeks, with the average cost of a gallon of diesel increasing about 45% from a month ago. As of Tuesday morning, diesel is running up to $5.45 a gallon for consumers.
U.S. and Brent oil prices have also spiked due to the conflict with Iran, rising about 54% and 48% as of Tuesday morning.
Following the U.S.-Israeli attack, Iran closed the Strait of Hormuz. About one-fifth of the world’s oil trade passes through this narrow passage of water. The blockage has caused trade disruption, contributing to the spike in oil prices.
Use the Get the Facts Data Team‘s gas price tracker to see how much it will cost to fill your tank.
