U.S. average retail gasoline price hits 4-dollar per gallon mark

Alsharq Tribune-Otaify 

U.S. average retail gasoline price on Monday effectively hit the 4-dollar per gallon mark for the first time since August 2022, driven by rising crude oil costs and supply disruptions.

The national average price is hovering between 3.98 dollars and 4.00 dollars per gallon, up from around 2.98 dollars a month ago.

U.S. gasoline prices have surged over 34 percent since late February, according to GasBuddy data compiled from more than 12 million individual price reports covering over 150,000 gas stations across the country.

The national average price for diesel has crossed the 5-dollar threshold.

Gasoline price surge, a result of supply disruptions due to the Middle East conflicts, is leading to reduced driving, with many U.S. consumers rethinking travel plans.