Motorists are facing rapidly rising fuel costs as gasoline prices continue their upward climb, with the national average nearing the $4-per-gallon mark for the first time in years.
According to GasBuddy, the average price of gasoline rose 24.3 cents over the past week to $3.92 per gallon. The increase reflects a sharp acceleration compared to recent months, driven by the war with Iran, with prices now nearly a dollar higher than just a month ago and significantly above levels seen this time last year.
Diesel prices have climbed even more aggressively, rising 27 cents in the last week to reach $5.227 per gallon. In some parts of the country, diesel is approaching record highs, increasing transportation costs and fueling inflation.
Patrick De Haan, head of petroleum analysis at GasBuddy, said a combination of seasonal factors and geopolitical tensions is fueling the surge.
“Gas prices continued to rise nationwide over the last week as seasonal factors, combined with ongoing supply concerns tied to the continued disruption in the Strait of Hormuz, pushed both gasoline and diesel prices sharply higher,” De Haan said in the GasBuddy Blog. “It now appears increasingly likely that the national average price of gasoline will reach the $4-per-gallon mark—potentially as early as this week.”
https://www.consumeraffairs.com/news/average-gas-price-poised-to-hit-4-a-gallon-032426.html
