Gas Prices

U.S. gas prices have jumped past an average of $4 a gallon for the first time since 2022 as fuel prices continue to soar worldwide amid the Iran war. According to AAA, the national average for a gallon of regular gasoline is now $4.02 — over a dollar more expensive than before the war began on Feb. 28. That's the largest monthly jump the motor club has seen on record. As drivers pay more to cover necessities like gas, many households may be forced to cut their budgets in other places. And as businesses face higher transportation costs, prices of things like groceries and other goods people buy each day could also rise.

Global leaders have been scrambling to contain the rising cost of oil and gasoline since the start of the Iran war. President Donald Trump and other heads of state have been pulling on various levers while hoping to ease pain for consumers. They coordinated to launch 400 million barrels of oil onto the market. And Trump lifted sanctions on Russian and Iranian crude. Experts say the maneuvers are adding some oil to the market but it's not enough to halt the steep climb in gas prices that consumers are experiencing.