U.S. Gasoline Prices Climb Above $4 Per Gallon

The national average price of gasoline rose 7.7 cents over one week to $4.02 per gallon, while diesel increased 14.3 cents to $5.42 per gallon. Patrick De Haan, head of petroleum analysis at GasBuddy, attributes this upward pressure to rebounding oil prices driven by the continued closure of the Strait of Hormuz and Ukrainian attacks on Russian oil refineries.

Regional price spikes mirrored the national trend. In Michigan, prices climbed by an average of 12 cents to $4.27 per gallon, with Adrienne Woodland of AAA Michigan noting that previous relief for drivers was short-lived. Montana prices rose 8.6 cents to $4.31 per gallon, making it the ninth most expensive state in the U.S., while Minnesota averages reached $4.11 per gallon.

Analysts warn that fuel costs remain tilted to the upside due to ongoing refinery strikes and global supply chain disruptions. While the seasonal transition to cheaper winter-blend gasoline may offer some relief, De Haan suggests that the primary challenges facing motorists show no signs of resolving soon. Montrae Waiters of AAA noted that while some earlier declines in crude oil prices filtered through the market, ongoing uncertainty surrounding global supplies could continue to push prices higher.