Summary
Gas prices have increased across all U.S. states as the conflict between the U.S.-Israel and Iran affects global oil markets. The price hikes are linked to disruptions in oil production and transportation in the Middle East, increasing global crude oil costs. President Trump expressed that he is not concerned about the rising gas prices and believes they will decrease once the conflict ends.
Key Facts
- Gas prices have risen in all 50 states and Washington D.C. since February 28.
- Arizona experienced the largest increase, with gas prices up by 96 cents in a month.
- Other significant increases occurred in New Mexico, Colorado, California, and Nevada.
- The conflict in the Middle East has disrupted oil production, prompting global price hikes.
- The national average gas price rose from $2.940 a month ago to $3.630 now.
- Brent crude oil prices recently hit a high of $119.50 per barrel, the highest since 2022.
- President Trump believes gas prices will decrease quickly after the conflict is resolved.
