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Gas prices rise above $4 a gallon for first time in more than 3 years

March 31, 2026
in Business
Reading Time: 2 mins read
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Gas prices rise above  a gallon for first time in more than 3 years
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A gallon of gas now costs more than $4 on average, reaching a level not seen in more than 3 years, the American Automobile Association reported Tuesday.

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Gas prices at fuel stations across the US have risen steadily since Operation Epic Fury got underway on Feb. 28.

The average cost now stands at $4.018 a gallon, compared to just $2.98 one month ago, the AAA reported.

The cost of a gallon of gas is now above $4 on average. AP

There continues to be disparity across the nation – with gas prices in Texas hovering around the $3.678 mark per gallon, compared to California, which is nearing $5.89.

Drivers in Oregon and Nevada face having to fork out close to $5, according to the latest data.

In New York and New Jersey, a gallon still costs less than $4 but prices are creeping up.

Gas prices in the Empire State have jumped from $3 to $3.94 in the last month. 

It’s the first time gas prices per gallon have reached $4 since August 2022. 

In June 2022, gas prices passed the $5 a gallon mark for the first time – just three months after Russia launched its illegal invasion of Ukraine.

Energy costs have soared due to Iran’s effective closure of the Strait of Hormuz –  the waterway which around 20% of the world’s oil supply travels through.

Gas prices at an Arco fuel station in Los Angeles, California. Getty Images
The effective closure of the Strait of Hormuz has caused energy prices to fluctuate. Getty Images

The White House has always stressed that short-term energy price fluctuations was a price worth paying for peace.

“As for the temporary short-term fluctuation in gas prices, the president has said that once these combat operations are over, this administration is going to continue to unleash energy dominance,” Press Secretary Karoline Leavitt told reporters last week.

“We’re continuing to do that every day, and we’re going to see prices go back down at the pump as we have the past year because of this president.”

Earlier this month, President Trump wrote on Truth Social short-term oil prices would “drop rapidly” once “the destruction of the Iran nuclear threat is over.”

The White House has ordered 173 million barrels of oil from the Strategic Petroleum Reserve and is temporarily lifting restrictions on E10 and E15 gasoline.

Waivers, which come into force on May 1 and will remain in place until May 20, will allow gasoline blended with 15% ethanol to be sold.

“This emergency action will provide American families with relief by increasing fuel supply and consumer choice,” Lee Zeldin, the Environmental Protection Agency Administrator, said.

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