US Gasoline Prices Surge Past $4 Per Gallon

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The U.S. national average retail price of gasoline has crossed $4 per gallon for the first time in over three years, according to data from price-tracking service GasBuddy. This sharp increase in pump prices is being driven by the ongoing military conflict between the United States, Israel, and Iran, which is wreaking havoc on global energy supply.

Why it matters

The rise in gasoline prices above the psychologically important $4 per gallon mark will have significant economic impacts, squeezing household budgets, increasing transportation costs for businesses, and potentially slowing consumer spending and economic growth. This comes at a time when the US economy is still recovering from the effects of the COVID-19 pandemic.

The details

The national average price of gasoline in the US reached $4.03 per gallon on Monday, according to GasBuddy data. This represents a sharp increase from the $3.50 per gallon average just a month ago. The surge in prices is directly attributed to the ongoing military conflict between the US, Israel, and Iran, which has disrupted global oil production and refining capacity.

• The US national average gasoline price crossed $4 per gallon on March 30, 2026.
• Prices had averaged around $3.50 per gallon just one month prior, in late February 2026.

What they’re saying

What’s next

Analysts will be closely watching to see if gasoline prices continue to rise, and whether the Biden administration takes any steps to try to mitigate the impact on American consumers, such as tapping the Strategic Petroleum Reserve.