The national average price for gasoline has climbed above $4 per gallon for the first time in nearly four years, driven by rising oil prices amid ongoing geopolitical tensions, according to AAA.
The average price for a gallon of regular gas reached $4.08 this week, up 10 cents from last week and more than $1 higher than a month ago. It marks the first time the national average has exceeded $4 since August 2022.
AAA said crude oil prices have surged above $100 per barrel as conflict in the Middle East continues and the Strait of Hormuz remains closed, tightening global supply.
In 2022, gas prices remained elevated from March through August, peaking in June when the national average briefly reached a record $5 per gallon.
New data from the Energy Information Administration shows gasoline demand declined slightly last week, while domestic supply also dipped. Gasoline production averaged 9.6 million barrels per day.
At the same time, U.S. crude oil inventories increased by 5.5 million barrels and remain roughly in line with the five-year average for this time of year.
Prices vary widely across the country. California continues to have the highest average at $5.89 per gallon, followed by Hawaii and Washington. Meanwhile, Oklahoma and Kansas have some of the lowest prices, both below $3.35 per gallon.
For electric vehicle drivers, the national average cost at public charging stations held steady at 41 cents per kilowatt hour.
AAA said drivers can track fuel and charging prices using its TripTik Travel planner.
