US Gasoline Prices Reach Highest Level in Nearly 2.5 Years

Average price per gallon hits $3.80 amid Iran blockade of Strait of Hormuz

Mar. 18, 2026 at 4:21am

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The average price of gasoline in the United States has risen to $3.80 per gallon, the highest level in nearly 2.5 years, according to data from the Energy Information Administration and the American Automobile Association. The current spike in prices is linked to the ongoing blockade of the Strait of Hormuz by Iran, which followed the launch of the US-Israeli aggression against Iran.

Why it matters

Gasoline prices in the US are a politically charged issue, with the record highs in 2022 under the Biden administration used as a political argument. The current rise in prices will likely reignite debates around energy policy, inflation, and the geopolitical tensions driving market volatility.

The details

Data from the independent Energy Information Administration shows that Americans have not paid this much for gasoline since October 2023, when the price stood at $3.74 per gallon. In August and September of that year, the average price reached as high as $4 per gallon. The current spike in prices is directly linked to the ongoing blockade of the Strait of Hormuz by Iran, which followed increased tensions and a US-Israeli military action against Iran.

  • The average gasoline price in the US reached $3.80 per gallon as of March 18, 2026.
  • In October 2023, the average price was $3.74 per gallon.
  • In August and September 2023, the average price reached as high as $4 per gallon.

The players

Energy Information Administration

An independent agency within the United States Department of Energy that collects, analyzes, and disseminates energy information.

American Automobile Association

A federation of motor clubs throughout North America that provides travel-related services such as roadside assistance and traffic safety advocacy.

Joe Biden

Former President of the United States, whose administration oversaw record high gasoline prices in 2022.

Donald Trump

Current President of the United States, who has repeatedly drawn attention to high gasoline prices during his election campaign.

Iran

Country that has blockaded the Strait of Hormuz, contributing to the current spike in gasoline prices.

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What they’re saying

“The record high price is associated with the administration of former President Joe Biden: in June 2022, the average price per gallon exceeded $5.”

— Donald Trump (news-pravda.com)

What’s next

The ongoing blockade of the Strait of Hormuz by Iran is expected to continue, which could lead to further increases in gasoline prices in the United States. Policymakers and political leaders will likely debate potential responses, including strategic oil releases, sanctions, or diplomatic efforts to resolve the regional tensions.

The takeaway

The rise in US gasoline prices to the highest level in nearly 2.5 years highlights the continued volatility in global energy markets and the political sensitivity around this issue. As the Biden administration's record-high prices in 2022 were used as a political weapon, the current spike under the Trump presidency will likely reignite debates around energy policy, inflation, and America's geopolitical relationships.