U.S. Gas Prices Reach $4 Per Gallon

Highest national average since 2022 amid global supply chain disruptions

Mar. 31, 2026 at 12:38pm

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A geometric abstract illustration using bold shapes and primary colors to conceptually represent the rising cost of gasoline and its economic impact.The soaring cost of fuel is squeezing household budgets and straining the broader economy.NYC Today

The average price of gasoline in the United States has surpassed $4 per gallon, the highest national average since 2022. This sharp increase in fuel costs is being driven by ongoing global supply chain issues and geopolitical tensions impacting the global oil market.

Why it matters

Rising gas prices have a significant impact on consumer spending, transportation costs, and the overall economy. Higher fuel prices put a strain on household budgets, force businesses to raise prices, and contribute to broader inflationary pressures.

The details

According to the latest data, the national average price for a gallon of regular gasoline in the U.S. reached $4.05 on March 31, 2026. This marks the first time gas prices have exceeded the $4 per gallon threshold since 2022, when prices spiked due to the fallout from the COVID-19 pandemic and the Russian invasion of Ukraine.

  • The national average gas price hit $4.05 per gallon on March 31, 2026.

The players

U.S. Energy Information Administration

The statistical and analytical agency within the U.S. Department of Energy that collects, analyzes, and disseminates independent and impartial energy information.

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What’s next

Analysts expect gas prices to continue rising in the coming weeks and months as global supply chain issues and geopolitical tensions persist, potentially reaching new record highs by the summer driving season.

The takeaway

The surge in U.S. gas prices above $4 per gallon is a significant economic indicator, signaling the ongoing challenges facing consumers and businesses due to global supply chain disruptions and market instability. This development will likely exacerbate inflationary pressures and prompt renewed calls for policy solutions to address energy costs.