U.S. Gasoline Prices Surge as Oil Tops $100 Barrel

Gasoline prices across the United States have surged following the resumption of hostilities between the United States and Iran. Crude oil prices have returned to over $100 a barrel, driving up costs for consumers and offsetting the typical post-Labor Day reduction in demand.

State averages have climbed significantly. In Michigan, prices reached $4.44 per gallon on September 15, marking a 12-cent increase in 24 hours. Maine saw a weekly increase of more than $0.11 per gallon, bringing its average to $4.30. In New Mexico, the statewide average for regular unleaded fuel rose to $4.31 per gallon by September 11, while South Carolina averages reached $3.92.

Regional factors have further exacerbated the spike. In West Michigan, a six-month labor dispute at the Whiting, Indiana refinery has restricted fuel supplies. National diesel prices also rose by more than $0.31 per gallon.

Industry analysts warn that seasonal trends will not provide immediate relief. While the transition to cheaper winter-blend gasoline typically occurs this week, experts from GasBuddy and AAA New Mexico state that geopolitical escalations and oil market volatility are maintaining upward pressure on costs.