WASHINGTON : According to the American Automobile Association (AAA), the average price of regular gasoline in the United States climbed to $3.32 per gallon as of Friday, marking an 11 percent increase compared to last week. This is the highest gasoline price recorded since September 2024.
Diesel prices also witnessed a sharp increase, rising 15 percent in a week to $4.33 per gallon, the highest level since November 2023.
The surge comes as US crude oil futures settled at $90.90 per barrel on Friday, representing a nearly $10 jump in a single day, the biggest one-day gain since April 2020. Analysts say the increase is largely linked to fears of restricted oil and fuel exports due to the ongoing conflict involving the United States, Israel, and Iran.
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The price spike presents a significant challenge for US consumers, many of whom are already grappling with inflation and rising living costs.
During his second presidential term, US President Donald Trump had pledged to lower energy prices and boost domestic oil and gas exploration. However, energy markets have remained volatile, influenced by policy shifts, tariffs, and rising geopolitical tensions.
Although the United States is the world’s largest producer and exporter of oil, it also remains the largest consumer, importing millions of barrels of oil each day to meet domestic demand.
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